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2019 (10) TMI 1046 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHIMaintainability of application - initiation of CIRP - Corporate Debtor failed to repay the debt - Adjudicating Authority dismissed the Application holding that the claim made by the Appellant (Financial Creditor) is not a ‘financial debt’ - Section 7 of Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The Appellant, who claims to be a Financial Creditor, however, claims made by it, is not a Financial Debt. It is reiterated that in the marketing agreements and subsequent correspondence exchanged between the Appellant and the Respondent, no way it is mentioned that the amount paid by the Appellant to be repayable along with interest over a period of time in a single or series of payments in future. However, we are of the firm opinion that the Appellant has not disbursed money against the consideration for the time value. The claim of the Appellant is not a Financial Debt within the meaning of Section 5(8) of IBC. Appeal dismissed.
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