https://www.taxtmi.com/highlights?id=105202 Share-purchase consideration paid under a tripartite memorandum, without an obligation to repay or a return for its use, does not satisfy the requirement of disbursement against consideration for time value of money and therefore is not financial debt under the Insolvency and Bankruptcy Code. A claimed oral conversion into an interest-bearing loan requires proof and cannot be established in summary proceedings. Balance-sheet entries, balance confirmations, interest credits and tax deduction at source do not alter the payment's original character or independently prove such an agreement, especially where interest was not paid. Clerical misdescriptions causing no prejudice do not justify interference. Civil remedies remain open. en-us Wed, 21 Oct 2026 08:37:56 +0530 Wed, 21 Oct 2026 08:37:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105202 Share-purchase consideration paid under a tripartite memorandum, without an obligation to repay or a return for its use, does not satisfy the requirement of disbursement against consideration for time value of money and therefore is not financial debt under the Insolvency and Bankruptcy Code. A claimed oral conversion into an interest-bearing loan requires proof and cannot be established in summary proceedings. Balance-sheet entries, balance confirmations, interest credits and tax deduction at source do not alter the payment's original character or independently prove such an agreement, especially where interest was not paid. Clerical misdescriptions causing no prejudice do not justify interference. Civil remedies remain open. Highlights IBC Wed, 21 Oct 2026 08:37:56 +0530 https://www.taxtmi.com/highlights?id=105202