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IBC - Highlights / Catch Notes

Home Highlights December 2022 Year 2022 This

Initiation of CIRP - Financial creditors - The use of the word ...

Insolvency and Bankruptcy

December 8, 2022

Initiation of CIRP - Financial creditors - The use of the word ‘if any’ clearly makes that it is not essential for all financial debt to be with interest. However, the essential condition which is required to be fulfilled for a debt to be a financial debt is “disbursement for time value of money” which has to be fulfilled for all transactions referred to in clauses (a) to (f) in sub-section (8) of Section 5 of the Code. - AT

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