https://www.taxtmi.com/caselaws?id=420540 An investment made in a real estate joint development arrangement by a party acting as promoter and investor does not amount to financial debt under the Insolvency and Bankruptcy Code, 2016, where the transaction is structured as a joint venture rather than a borrowing against the time value of money. The memorandum of understanding and joint venture agreement showed a promoter/landowner and developer relationship, not an allottee relationship. The deeming provision treating amounts raised from an allottee as having the commercial effect of borrowing was inapplicable because the investor could not be treated as an allottee under the Real Estate (Regulation and Development) Act, 2016. en-us Mon, 04 Apr 2022 00:00:00 +0530 Tue, 05 Apr 2022 09:07:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420540 An investment made in a real estate joint development arrangement by a party acting as promoter and investor does not amount to financial debt under the Insolvency and Bankruptcy Code, 2016, where the transaction is structured as a joint venture rather than a borrowing against the time value of money. The memorandum of understanding and joint venture agreement showed a promoter/landowner and developer relationship, not an allottee relationship. The deeming provision treating amounts raised from an allottee as having the commercial effect of borrowing was inapplicable because the investor could not be treated as an allottee under the Real Estate (Regulation and Development) Act, 2016. Case-Laws Insolvency and Bankruptcy Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420540