https://www.taxtmi.com/caselaws?id=405252 The Tribunal upheld the decision to recognize certain indirect lenders as Financial Creditors of the Corporate Debtor, based on the Deed of Hypothecation constituting a guarantee under the Indian Contract Act. It ruled that the debt need not be in default for claims to be admissible in the Corporate Insolvency Resolution Process, and individual lenders had the right to file claims directly. The Applicant's challenge was dismissed, affirming the admission of claims by the indirect lenders as Financial Creditors. en-us Tue, 02 Mar 2021 00:00:00 +0530 Mon, 15 Mar 2021 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405252 The Tribunal upheld the decision to recognize certain indirect lenders as Financial Creditors of the Corporate Debtor, based on the Deed of Hypothecation constituting a guarantee under the Indian Contract Act. It ruled that the debt need not be in default for claims to be admissible in the Corporate Insolvency Resolution Process, and individual lenders had the right to file claims directly. The Applicant's challenge was dismissed, affirming the admission of claims by the indirect lenders as Financial Creditors. Case-Laws Insolvency and Bankruptcy Tue, 02 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405252