National Company Law Appellate Tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

The NCLAT reinforced that not all financial transactions qualify as financial debts under the IBC.

national company law appellate tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

Amount taken by the Directors of the Corporate Debtor in their personal capacity cannot be construed as ‘Financial Debt’ under S. 5(8) of the IBC.