https://www.taxtmi.com/highlights?id=56854 Initiation of CIRP - As per the ‘Companies (Acceptance of Deposits) Rules, 2014’, the term ‘deposit’ is defined under rule 2(1) (c ) in an inclusive fashion. The meaning of ‘deposit’ is elongated by covering receipts of money in any other form. For approaching the jurisdiction of the ‘Tribunal’ as per Section 74(2) of the ‘Companies Act, 2013’, even a partial failure by the Company to repay the deposit was sufficient. - the ‘Respondent/’Corporate Debtor’ squarely comes within the ambit of definition of ‘Financial Debt’ - AT en-us Tue, 23 Feb 2021 12:55:13 +0530 Tue, 23 Feb 2021 12:55:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56854 Initiation of CIRP - As per the ‘Companies (Acceptance of Deposits) Rules, 2014’, the term ‘deposit’ is defined under rule 2(1) (c ) in an inclusive fashion. The meaning of ‘deposit’ is elongated by covering receipts of money in any other form. For approaching the jurisdiction of the ‘Tribunal’ as per Section 74(2) of the ‘Companies Act, 2013’, even a partial failure by the Company to repay the deposit was sufficient. - the ‘Respondent/’Corporate Debtor’ squarely comes within the ambit of definition of ‘Financial Debt’ - AT Highlights Insolvency and Bankruptcy Tue, 23 Feb 2021 12:55:13 +0530 https://www.taxtmi.com/highlights?id=56854