Tag: financial creditors

CIRP can be initiated even if name of financial creditor not specifically mentioned in balance sheet, an entry in the balance sheet coupled with the note of the accounts to acknowledgement of the liability – SC  In a recent judgment, Hon’ble Supreme Court has held that for initiation …

Payment by corporate guarantor does not extinguish liability of corporate debtor to pay the entire amount payable – SC In a recent judgment, the Hon’ble Supreme Court has held that payment by corporate guarantor does not extinguish liability of corporate debtor to pay the entire amount payable. A …

Supreme Court lays down tests to determine whether a debt is a financial debt or an operational debt under IBC In a recent judgment the Hon’ble Supreme Court has laid down tests to determine whether a debt is a financial debt or an operational debt under IBC ABCAUS …

Supreme Court upholds Home buyers status as financial creditors. Constitutional validity of amendments to IBC 2016 also upheld ABCAUS Case Law Citation:ABCAUS 3109 (2019) (08) SC Important case law relied upon by the parties:Nikhil Mehta and Sons (HUF) v. AMR Infrastructure Ltd.Chitra Sharma & Ors. v. Union of …