https://www.taxtmi.com/caselaws?id=385192 Amounts advanced under a real estate-linked arrangement were treated as financial debt because the record showed disbursal, acknowledgment of liability, agreed repayment terms, and part-payments, giving the transaction the commercial effect of borrowing and the character of consideration for the time value of money. Objections based on stamping defects and alleged FEMA violations did not defeat maintainability, as the stamping issue was curable and the transaction had been acted upon through banking channels. On the admitted default, the section 7 requirements were satisfied and the insolvency petition was admitted, leading to commencement of CIRP. en-us Thu, 10 Jan 2019 00:00:00 +0530 Sat, 31 Aug 2019 09:00:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385192 Amounts advanced under a real estate-linked arrangement were treated as financial debt because the record showed disbursal, acknowledgment of liability, agreed repayment terms, and part-payments, giving the transaction the commercial effect of borrowing and the character of consideration for the time value of money. Objections based on stamping defects and alleged FEMA violations did not defeat maintainability, as the stamping issue was curable and the transaction had been acted upon through banking channels. On the admitted default, the section 7 requirements were satisfied and the insolvency petition was admitted, leading to commencement of CIRP. Case-Laws Insolvency and Bankruptcy Thu, 10 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385192