https://www.taxtmi.com/caselaws?id=446445 SC dismissed the appeal, holding the compulsorily convertible debentures and accompanying documents created equity rights, not a debt under Section 3(11), so the SPV had no liability to the appellant. Coupon and buy-back obligations were those of the sponsor, not the SPV, and no contractual term converted CCDs into financial debt on any event. The appeal was not maintainable as a question of law within the Court's statutory jurisdiction and did not disclose a proper legal issue for interference; lower courts' findings were upheld. en-us Thu, 09 Nov 2023 00:00:00 +0530 Mon, 25 Aug 2025 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446445 SC dismissed the appeal, holding the compulsorily convertible debentures and accompanying documents created equity rights, not a debt under Section 3(11), so the SPV had no liability to the appellant. Coupon and buy-back obligations were those of the sponsor, not the SPV, and no contractual term converted CCDs into financial debt on any event. The appeal was not maintainable as a question of law within the Court's statutory jurisdiction and did not disclose a proper legal issue for interference; lower courts' findings were upheld. Case-Laws IBC Thu, 09 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446445