https://www.taxtmi.com/caselaws?id=791567 Financial creditor status under insolvency law requires actual disbursal against consideration for time value of money; collateral given only to secure another party's borrowing does not by itself create a secured financial debt. Post-dated cheques were treated as a promise to pay, not as creating a mortgage, charge or hypothecation over the corporate debtor's assets. On these facts, the claimant could not be treated as a financial creditor or secured financial creditor, but its claim could be considered as that of an other creditor. Rejection of the claim on delay was also unsustainable because the claim was filed within the invitation period and the record did not support a delay-based rejection. en-us Tue, 12 May 2026 00:00:00 +0530 Wed, 13 May 2026 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791567 Financial creditor status under insolvency law requires actual disbursal against consideration for time value of money; collateral given only to secure another party's borrowing does not by itself create a secured financial debt. Post-dated cheques were treated as a promise to pay, not as creating a mortgage, charge or hypothecation over the corporate debtor's assets. On these facts, the claimant could not be treated as a financial creditor or secured financial creditor, but its claim could be considered as that of an other creditor. Rejection of the claim on delay was also unsustainable because the claim was filed within the invitation period and the record did not support a delay-based rejection. Case-Laws IBC Tue, 12 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791567