2019 (11) TMI 1537

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....2nd session, despite the matter being taken up during 2nd session, there is no representation on behalf of the Petitioner. However, Counsel for the Corporate Debtor is present. In the circumstances, this Tribunal was forced to proceed with the hearing in the absence of the Petitioner. 2. During the course of submissions made by Counsel for the Corporate Debtor, it was pointed out by Counsel for the Corporate Debtor that pursuance to the notice of the Petitioner herein sent to the Corporate Debtor, the petitioner does not have locus to come before this Tribunal, in view of the assignment of debt of the Corporate Debtor which has been granted to a 3rd party. Learned Counsel for the Corporate Debtor brings to the notice of this Tribunal, th....

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....e letter dated 20.08.2009. 5. Learned Counsel for the Corporate Debtor, under the circumstances questions about the maintainability of the Petition prima facie on the competency of the Petitioner to file this Petition in view of the assignment of debt being made. Considering the definition of a 'Financial Creditor' as given under Section 5(7) of the I&B Code, 2016 discloses that Financial Creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred. It is evident from the above definition of the Financial Creditor that either the person to whom the financial debt is owed as defined under Section 5(8) of the provisions of the I&B Code, 2016 or in the ca....