Initiation of Corporate Insolvency Resolution Process - ...

Financial creditors must prove enforceable debts; personal loans to friends not exempt under Assam Money Lenders Act, 1934.

April 24, 2019

Case Laws Insolvency and Bankruptcy Tri

Initiation of Corporate Insolvency Resolution Process - financial creditor (FC) - proof of enforceable debts - individual in lending business - FC failed to prove that lending money to friends not in the courses of a business is exempted from the purview of the Assam Money Lenders Act, 1934.

View Source

← Previous Next →

Initiation of Corporate Insolvency Resolution Process - ...

Financial creditors must prove enforceable debts; personal loans to friends not exempt under Assam Money Lenders Act, 1934.

April 24, 2019

Case Laws Insolvency and Bankruptcy Tri

You may also like:

The NCLAT upheld the admission of the Section 7 application filed by the Financial Creditor (Respondent No.1) for initiating CIRP against the Corporate Debtor. It held...

The Corporate Debtor denied the existence of a loan agreement with 12% interest, as claimed by the Financial Creditor in the Section 7 application. To qualify as a...

Admission of section 7 application - financial debt or not - The Tribunal affirmed that the disbursal of ₹5 crores to the corporate debtor by the financial...

The Appellant challenged the admission of the Section 7 application filed by the Financial Creditor, contending no debt was due as the application was premature. The...

Section 53(1) of the Insolvency and Bankruptcy Code (IBC) provides for the order of priority in the distribution of liquidation assets. Financial debts owed to unsecured...

The Appellate Tribunal affirmed the decision to exclude the Appellant and other unsecured Financial Creditors from the Committee of Creditors (CoC). The key issues were...

Maintainability CIRP application - the amount paid to the CD towards brokerage can be "financial debt"? - There is nothing on record to show that the financial creditor...

Admission of a Section 7 application under the Insolvency and Bankruptcy Code, 2016, concerning the classification of a debt as a Financial Debt within the meaning of...

Financial Debt or not - related parties - Approval of Resolution Plan - The basic element of the Financial Debt that such disbursement should be for consideration of...

Dishonor of Cheque - legally enforceable debt or not - Since the accused rebutted the presumption whatever arisen by adducing oral and documentary evidence, the onus...

Initiation of CIRP - Financial Debt or not - Creditors were providing factoring services - Loan against Bill of exchange - the Financial Debt which is covered by...

Interpretation of statute - Financial creditor or not - The definition of ‘debt’ is also expansive and the same includes inter alia financial debt. The definition of...

Initiation of CIRP - Financial creditor within the meaning of sub-section (7) of Section 5 of the IBC - The Supreme Court affirmed the NCLAT’s judgment, holding that the...

Corporate debtor defaulted in repaying financial debt owed to financial creditor. NCLAT dismissed appeal, upholding orders of adjudicating authority. Transaction...

The Resolution Plan excludes personal guarantors, limiting the assignment of debt and security interests to the corporate debtor only. Consequently, the assignee NBFC...

Quick Updates: