https://www.taxtmi.com/caselaws?id=405792 The Tribunal concluded that the payments made by the first Respondent on behalf of the 'Corporate Debtor' to the Lender Bank constituted a 'Financial Debt' under the IBC. It further determined that the first Respondent, as a 'Purchaser' under an Agreement to Sell pursuant to an OTS, qualified as a 'Financial Creditor' under Section 5(7) of the Code. Consequently, the appeal was dismissed, and the Tribunal upheld the Adjudicating Authority's decision to admit the Section 7 Application. en-us Fri, 26 Mar 2021 00:00:00 +0530 Mon, 28 Oct 2024 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405792 The Tribunal concluded that the payments made by the first Respondent on behalf of the 'Corporate Debtor' to the Lender Bank constituted a 'Financial Debt' under the IBC. It further determined that the first Respondent, as a 'Purchaser' under an Agreement to Sell pursuant to an OTS, qualified as a 'Financial Creditor' under Section 5(7) of the Code. Consequently, the appeal was dismissed, and the Tribunal upheld the Adjudicating Authority's decision to admit the Section 7 Application. Case-Laws IBC Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405792