CIRP Application Denied: Lack of Documentation on Interest Rate Means Claim Isn't Financial Debt u/s 5(8) IBC.

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....Maintainability of application - initiation of CIRP - Financial debt or not - The applicants failed to produce any document to show that what was the agreed interest in between the parties on the basis of which money was borrowed. Therefore, the case of the applicant, does not comes u/s 5(8) of the I and B Code....