2018 (7) TMI 2131

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....Bansi Lal Bhat (Member(Judicial) For Appellant: - Mr. Rohit Choudhary and Ms. Ankit Patnaik, Advocates. JUDGMENT 1. The Appellant- 'M/s. Daya Engineering Works Pvt. Ltd.' invested money with 'M/s. UIC Udyog Ltd.' for supplying of materials. The materials valued Rs. 4,02,33,473/- (Rupees Four Crore Two Lakh Thirty-Three Thousand Four Hundred Seventy-Three Only) were supplied but material o....

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.... for its commercial purpose and used the same and, therefore, the Appellant has claimed interest at the rate of 24% per month. Submission is made that the Appellant in such case should be treated to be a 'Financial Creditor' within the meaning of Section 5(7) read with (8) of the 'I&B Code'. However, we are not expressing any opinion with regard to such issue as to whether Appellant is 'Financial ....