https://www.taxtmi.com/highlights?id=66685 Initiation of CIRP - Decree Holder - Financial Creditor - the debt in this case arising out of a decree, is a Financial Debt. - Section 3(11) of the Code defines debt as a liability in respect of a claim, and Section 3(6) of the Code defines term claim to mean a right to payment, whether or not such right has been reduced to judgement. Therefore, if the submission on behalf of the ‘Corporate Debtor’ is accepted, it would mean that a claim is excluded from being a financial debt even if reduced to Judgement by way of a recovery certificate. - AT en-us Tue, 22 Nov 2022 14:54:45 +0530 Tue, 22 Nov 2022 14:54:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=66685 Initiation of CIRP - Decree Holder - Financial Creditor - the debt in this case arising out of a decree, is a Financial Debt. - Section 3(11) of the Code defines debt as a liability in respect of a claim, and Section 3(6) of the Code defines term claim to mean a right to payment, whether or not such right has been reduced to judgement. Therefore, if the submission on behalf of the ‘Corporate Debtor’ is accepted, it would mean that a claim is excluded from being a financial debt even if reduced to Judgement by way of a recovery certificate. - AT Highlights Insolvency and Bankruptcy Tue, 22 Nov 2022 14:54:45 +0530 https://www.taxtmi.com/highlights?id=66685