https://www.taxtmi.com/caselaws?id=377171 The tribunal upheld the Adjudicating Authority's decision, ruling that the amount claimed by Respondent No. 1 constituted a 'financial debt' under Section 5(8) of the Insolvency and Bankruptcy Code. Respondent No. 1 was deemed a 'Financial Creditor,' with the tribunal emphasizing that interest is not a prerequisite for categorizing a debt as financial. The appeal was dismissed, with the tribunal highlighting that debt disbursed against consideration for the time value of money qualifies as financial debt, regardless of the absence of interest. en-us Wed, 30 Jan 2019 00:00:00 +0530 Sun, 24 Mar 2019 20:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377171 The tribunal upheld the Adjudicating Authority's decision, ruling that the amount claimed by Respondent No. 1 constituted a 'financial debt' under Section 5(8) of the Insolvency and Bankruptcy Code. Respondent No. 1 was deemed a 'Financial Creditor,' with the tribunal emphasizing that interest is not a prerequisite for categorizing a debt as financial. The appeal was dismissed, with the tribunal highlighting that debt disbursed against consideration for the time value of money qualifies as financial debt, regardless of the absence of interest. Case-Laws Insolvency and Bankruptcy Wed, 30 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377171