Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
The NCLAT held that Compulsory Convertible Debentures (CCDs) issued by the Corporate Debtor constituted a 'financial debt' u/s 5(8) as the transaction involved time value of money. The debenture subscription agreement contemplated redemption and conversion was at the option of the investor. Considering the clauses, the CCDs reflected time value of money, making it a financial debt. The NCLAT dismissed the appeal, upholding the adjudicating authority's order allowing the respondent's application.
The NCLAT held that Compulsory Convertible Debentures (CCDs) issued by the Corporate Debtor constituted a 'financial debt' u/s 5(8) as the transaction involved time value of money. The debenture subscription agreement contemplated redemption and conversion was at the option of the investor. Considering the clauses, the CCDs reflected time value of money, making it a financial debt. The NCLAT dismissed the appeal, upholding the adjudicating authority's order allowing the respondent's application.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
