NCLT to Reconsider Status of Third-Party Payment as 'Financial Debt' and Party as 'Financial Creditor' Without Debt.

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....Initiation of CIRP proceedings - In the order of NCLT, there was no finding rendered by the ‘Adjudicating Authority’ as to how a third party payment became a ‘Financial Debt’ or how a ‘Financial Creditor’ had become a ‘Financial Creditor’, in the absence of any ‘Financial Debt’ - Matter restored back - AT....