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2021 (11) TMI 606 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - HELD THAT:- From the conjoint reading of para 12 and 13, it is found that in the instant case, the amount has been released pursuant to the Agreement dated 25.03.2019 in the form of Security Deposit and the same is interest bearing, which means it is carrying consideration of time value of money having commercial effect of a borrowing. Therefore, the "debt" claimed is a "Financial Debt" within the definition of Section 5(f) of IBC, 2016. The petitioner is directed to issue notice upon the Corporate Debtor by all modes as to why the CIR process shall not be initiated against it. List the matter on 29.10.2021 - petition is maintainable.
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