https://www.taxtmi.com/article/detailed?id=10766 Mobilization advances given pursuant to a contract to meet initial site mobilization and preliminaries, adjusted against running bills or refundable on demand, lack the commercial characteristics enumerated in the statutory definition of financial debt and therefore do not qualify as financial debt under section 5(8); read purposively, such contract linked advances fall within the scope of operational debt under section 5(21) as claims arising from provision of goods or services and should be treated as operational claims in the insolvency resolution process. en-us Sat, 22 Oct 2022 10:09:32 +0530 Sat, 22 Oct 2022 10:09:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10766 Mobilization advances given pursuant to a contract to meet initial site mobilization and preliminaries, adjusted against running bills or refundable on demand, lack the commercial characteristics enumerated in the statutory definition of financial debt and therefore do not qualify as financial debt under section 5(8); read purposively, such contract linked advances fall within the scope of operational debt under section 5(21) as claims arising from provision of goods or services and should be treated as operational claims in the insolvency resolution process. Articles Corporate Laws / IBC / SEBI Sat, 22 Oct 2022 10:09:32 +0530 https://www.taxtmi.com/article/detailed?id=10766