https://www.taxtmi.com/article/detailed?id=10524 A liability arising from a Recovery Certificate constitutes financial debt under Section 5(8) of the Code; accordingly the holder of the Recovery Certificate is a financial creditor under Section 5(7) and may initiate corporate insolvency resolution process under Section 7. The Supreme Court held that the list in Section 5(8) is inclusive, the issuance of a Recovery Certificate gives rise to a fresh right to recover, and the limitation for filing Section 7 runs from the date of issuance; merits remain for the Adjudicating Authority to decide. en-us Fri, 15 Jul 2022 09:15:03 +0530 Fri, 15 Jul 2022 09:15:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10524 A liability arising from a Recovery Certificate constitutes financial debt under Section 5(8) of the Code; accordingly the holder of the Recovery Certificate is a financial creditor under Section 5(7) and may initiate corporate insolvency resolution process under Section 7. The Supreme Court held that the list in Section 5(8) is inclusive, the issuance of a Recovery Certificate gives rise to a fresh right to recover, and the limitation for filing Section 7 runs from the date of issuance; merits remain for the Adjudicating Authority to decide. Articles Corporate Laws / IBC / SEBI Fri, 15 Jul 2022 09:15:03 +0530 https://www.taxtmi.com/article/detailed?id=10524