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        Case ID :
        Insolvency and Bankruptcy

        Initiation of CIRP - Financial Debt or Operational Debt -...

        NCLT to Reassess CIRP Application: Loan Misclassified as Non-Financial Debt Under Insolvency and Bankruptcy Code 2016.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Initiation of CIRP - Financial Debt or Operational Debt - existence of ‘Default’ or not - The contra views arrived at by the ‘Adjudicating Authority’ that the ‘Loan’ was not a ‘Financial Debt’, as the amounts were not ‘money borrowed’ by the ‘Corporate Debtor’ and that the borrowing may not constitute a ‘Financial Debt’ that could be enforced as per the I & B Code, 2016 though the ‘Borrowing’ may be reflected in the ‘Balance Sheet’ as pointed out by the ‘Petitioner (Appellant)’ etc; are legally ‘invalid’ and ‘untenable’ - NCLT directed to re-adjudicate the application - AT
                                Note: It is a system-generated summary and is for quick reference only.
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