words of the definition clause
would indicate that a financial debt is a debt along with interest
which is disbursed against the consideration ... appellants come within the meaning of
'debt' as defined in Section 3(11) of the Cf & B Code' which reads
ional creditor.
e terms "Claim", "Debt" "and "Default" are define under Part l of the .
étion ... making'a claim under the Code.
ion 3G 1) defines "debt" to mean; the Hability or obligation in 'respect °
which
from any person and includes a
financial debt and operational debt"
25. Default has been defined in sub-section (12) of Section 3, which ... person to whom
such debt has been legally assigned or transferred to.
27. 'Financial Debt' has been defined under sub-section
exercised". The preamble to the UN Supplementary
Convention of 1956 defined debt bondage as "the status or
condition arising from a pledge ... those services are not
respectively limited and defined". From the above
definition of debt bondage, it appears that the debt
bondage is a kind
operational creditor'. Referring to the definition of 'operational debts' as
defined under Section 5 (2 1) of the I&B Code ... operational
debt is owed and includes any person to whom such debt has
been legally assigned or transferred;"
36. Operational Debt is defined
financial
debt'..
10 Learned Counsel for the appellant also placed reliance on definition of
"debt" as defined under sub-section ... debt is. owed and includes aperson to whom such debt has been
legally, assigned or transferred to
27. 'Financial Debt' means a debt
paragraph 6 of the judgement in United Bank of India Vs Debts
Recovery Tribunal is to provide for the establishment of
Tribunals for the expeditious ... under:-
"4. Section 2(g) of the said Act which
defines "debt" is relevant for the
purposes of this appeal. It reads
debt or other liability" as a legally enforceable debt or other
liability. A cheque given not for the satisfaction of any debt or other ... many definitions of the word debt have been
given though the word debt is not defined in the Act. 'Debt' is defined
explanation to
Section 138 of the Negotiable Instruments Act defines the
expression "debt or other liability" as a legally enforceable
debt or other ... JUDGMENT
Too many definitions of the word debt have been given
though the word debt is not defined in the Act. 'Debt
appellant is that under Clause (a) of the
definition clause defining debt due, the principal amount of debt should be
for financing of the Total ... capital cost of the project. Debt due
does not exclude the equity funded by the Concessionaire. Debt due as
defined refers to principal amount
