TMI BlogInitiation of CIRP - period of limitation - whether the issuance of Recovery Certificate would not...Initiation of CIRP - period of limitation - whether the issuance of Recovery Certificate would not trigger the right to sue. - A liability in respect of a claim arising out of a Recovery Certificate would be a “financial debt” within the meaning of clause (8) of Section 5 of the IBC. Consequently, the holder of the Recovery Certificate would be a financial creditor within the meaning of clause (7) of Section 5 of the IBC. As such, the holder of such certificate would be entitled to initiate CIRP..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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