https://www.taxtmi.com/article/detailed?id=8004 Definition and scope of financial debt under the Code cover liabilities disbursed against consideration for the time value of money and include a non-exhaustive list of instruments and transactions demonstrating the commercial effect of borrowing. Interim resolution professionals must classify creditor claims; financial creditors join the Committee of Creditors and vote in proportion to claims. Authorities treat commitment charges and payments made on behalf of a corporate debtor as financial debt. The Insolvency Law Committee recommends clarifying that home-buyer advances constitute financial debt and home buyers qualify as financial creditors. en-us Tue, 15 May 2018 06:53:04 +0530 Tue, 15 May 2018 06:53:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8004 Definition and scope of financial debt under the Code cover liabilities disbursed against consideration for the time value of money and include a non-exhaustive list of instruments and transactions demonstrating the commercial effect of borrowing. Interim resolution professionals must classify creditor claims; financial creditors join the Committee of Creditors and vote in proportion to claims. Authorities treat commitment charges and payments made on behalf of a corporate debtor as financial debt. The Insolvency Law Committee recommends clarifying that home-buyer advances constitute financial debt and home buyers qualify as financial creditors. Articles Corporate Laws / IBC / SEBI Tue, 15 May 2018 06:53:04 +0530 https://www.taxtmi.com/article/detailed?id=8004