https://www.taxtmi.com/caselaws?id=771569 NCLAT set aside NCLT's dismissal of Section 7 IBC application. The tribunal held that transactions between parties constituted financial debt under Section 5(8) IBC, qualifying appellant as financial creditor. Despite agreements being structured as sale/purchase of plots, NCLAT found parties' real intention was loan transaction based on: 18% monthly compounding interest, fixed repayment date, funds used for bank loan repayment, property remaining mortgaged, and both parties treating it as loan in financial statements. The transaction satisfied criteria for financial debt including time value of money and commercial borrowing effect. en-us Fri, 23 May 2025 00:00:00 +0530 Wed, 28 May 2025 08:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771569 NCLAT set aside NCLT's dismissal of Section 7 IBC application. The tribunal held that transactions between parties constituted financial debt under Section 5(8) IBC, qualifying appellant as financial creditor. Despite agreements being structured as sale/purchase of plots, NCLAT found parties' real intention was loan transaction based on: 18% monthly compounding interest, fixed repayment date, funds used for bank loan repayment, property remaining mortgaged, and both parties treating it as loan in financial statements. The transaction satisfied criteria for financial debt including time value of money and commercial borrowing effect. Case-Laws IBC Fri, 23 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771569