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Home Highlights January 2021 Year 2021 This

CIRP Proceedings - Operational Debts or Financial Debts - ...

Insolvency and Bankruptcy

January 9, 2021

CIRP Proceedings - Operational Debts or Financial Debts - financial guarantor - The guarantee essentially was for payment against default in the sale consideration of the products agreed to be purchased respectively from Respondent Nos. 2 and 3. The guarantees being not a liability arising out of the transaction in terms of section 5(8)(f) of the Code, would not come within the purview of the financial debt. - Tri

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