https://www.taxtmi.com/highlights?id=54530 Initiation of CIRP - Apart from the fact that the Joint Development Agreement entered into, is a contract of reciprocal rights and obligations, both parties are admittedly ‘Joint Development Partners’, who entered into a consortium of sorts for developing an Integrated Township and for any breach of terms of contract, Section 7 Application is not maintainable as the amount cannot be construed as ‘Financial Debt’ as defined under Section 5(8) of the Code. - AT en-us Sat, 29 Aug 2020 13:16:54 +0530 Sat, 29 Aug 2020 13:16:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=54530 Initiation of CIRP - Apart from the fact that the Joint Development Agreement entered into, is a contract of reciprocal rights and obligations, both parties are admittedly ‘Joint Development Partners’, who entered into a consortium of sorts for developing an Integrated Township and for any breach of terms of contract, Section 7 Application is not maintainable as the amount cannot be construed as ‘Financial Debt’ as defined under Section 5(8) of the Code. - AT Highlights Insolvency and Bankruptcy Sat, 29 Aug 2020 13:16:54 +0530 https://www.taxtmi.com/highlights?id=54530