https://www.taxtmi.com/caselaws?id=405085 The appeal filed by M/s. Orator Marketing Pvt. Ltd., claiming to be a Financial Creditor against M/s. Samtex Desinz Pvt. Ltd., for defaulting on a debt of Rs. 1,56,89,740 was dismissed. The Adjudicating Authority rejected the application seeking Corporate Insolvency Resolution Process under Section 7 of IBC, as the transaction did not meet the criteria of a financial debt. Despite the assignment of the outstanding loan to the Appellant, the Tribunal upheld the dismissal, emphasizing the absence of evidence supporting the consideration for the time value of money. The appeal was ultimately dismissed without costs awarded. en-us Mon, 08 Mar 2021 00:00:00 +0530 Thu, 25 Nov 2021 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405085 The appeal filed by M/s. Orator Marketing Pvt. Ltd., claiming to be a Financial Creditor against M/s. Samtex Desinz Pvt. Ltd., for defaulting on a debt of Rs. 1,56,89,740 was dismissed. The Adjudicating Authority rejected the application seeking Corporate Insolvency Resolution Process under Section 7 of IBC, as the transaction did not meet the criteria of a financial debt. Despite the assignment of the outstanding loan to the Appellant, the Tribunal upheld the dismissal, emphasizing the absence of evidence supporting the consideration for the time value of money. The appeal was ultimately dismissed without costs awarded. Case-Laws Insolvency and Bankruptcy Mon, 08 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405085