TMI BlogInitiation of CIRP - Financial Creditors - Financial Debt - There is a difference between the levy of...Initiation of CIRP - Financial Creditors - Financial Debt - There is a difference between the levy of liquidated damages or penal interest for default and the financial debt per se - interest per se in any business contract cannot be termed to make the “debt” as a “Financial Debt”, if it is in the nature of liquidated damages or in the nature of penal interest, which is a result of compensation for breach of contract which is stipulated for penalty. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
