TMI BlogInitiation of CIRP - Financial Creditors or Operational creditors - Upon execution of agreement of COR,...Initiation of CIRP - Financial Creditors or Operational creditors - Upon execution of agreement of COR, the Appellant as a Financier discounted the invoice and deposited the amounts into an escrow/nodal account maintained by KredX with an escrow/nodal agent, namely, Yes Bank Limited who further transferred the said amount to the account of the Seller and on receiving, the Seller transferred its right to receive the money under the invoices in favour of the Financiers/Appellants. - In this transa..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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