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Court Confirms Factoring Agreements as Financial Debt u/s 5(8)(e) of Insolvency and Bankruptcy Code.

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....Initiation of CIRP - Financial Debt or not - Creditors were providing factoring services - Loan against Bill of exchange - the Financial Debt which is covered by Factoring Agreement is clearly covered within meaning of Section 5(8)(e) of the Code and the Financial Creditor was entitled to being recourse - AT....

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