Petitioner Fails to Prove Time Value of Money; Claim Not a Financial Debt u/s 5(8) of Insolvency Code.

Initiation of CIRP - The petitioner is the dominus litis and the onus probandi lies on the petitioner to establish the crucial ingredient of time value of money, as required under section 5(8) of the Code and the judicial pronouncements discussed in the transaction under consideration. But the petitioner failed on this count. Hence, the amount claimed is not a financial debt. - Tri .....

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