Search Results Page
Search Results
1 - 5 of 5 (0.27 seconds)
Athena Demwe Power Ltd Through Its ... vs Abir Infrastructure Pvt. Ltd.& Anr on 17 August, 2022
cites
Section 8 in Real Estate (Regulation And Development) Act, 2016 [Entire Act]
Section 9 in Real Estate (Regulation And Development) Act, 2016 [Entire Act]
Ecl Finance Limited vs Abhinav Mukherji & Ors on 12 July, 2022
This Tribunal in
'Ascot Realty Private Limited' (Supra) has held that
for initiation of Insolvency Proceedings against the
Corporate Guarantor, the element of disbursal for
'Time Value of Money' is not required. We are of the
considered view that despite the fact that there was
Company Appeal (AT) (Insolvency) No. 158 of 2022
-8-
no direct disbursal of amount to the Corporate
Guarantor, any amounts released to the
Issuer/Principal Borrower and not to the Corporate
Guarantor does constitute 'Financial Debt' as defined
under Section 5(8) of the Code and it cannot be said
that such amounts do not have consideration for
'Time Value of Money'. In the facts of the attendant
case, it has to be only seen whether there was a
'default' and the amounts are 'due and payable' as
on the date of filing of the 'Claim'."
Section 2 in Real Estate (Regulation And Development) Act, 2016 [Entire Act]
1