https://www.taxtmi.com/caselaws?id=305261 A lease and licence arrangement for use of premises against monthly licence did not amount to borrowing or any other transaction creating a financial debt under the Insolvency and Bankruptcy Code. Although the claim was supported by an arbitral award for unpaid licence fees and interest, the underlying relationship remained rental in nature and lacked the essential character of a financial debt. As a result, the applicant could not be treated as a financial creditor and could not invoke section 7 on that basis. en-us Mon, 31 May 2021 00:00:00 +0530 Thu, 24 Nov 2022 23:19:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305261 A lease and licence arrangement for use of premises against monthly licence did not amount to borrowing or any other transaction creating a financial debt under the Insolvency and Bankruptcy Code. Although the claim was supported by an arbitral award for unpaid licence fees and interest, the underlying relationship remained rental in nature and lacked the essential character of a financial debt. As a result, the applicant could not be treated as a financial creditor and could not invoke section 7 on that basis. Case-Laws Insolvency and Bankruptcy Mon, 31 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305261