falls within the ambit of
definition of 'Financial Debt' as defined under Section
5(8) of the Code, in view of the contention ... person to whom a financial debt is owed and a
financial debt is defined in Section 5(8) to mean a
debt which is disbursed
falls within the ambit of
definition of 'Financial Debt' as defined under Section
5(8) of the Code, in view of the contention ... person to whom a financial debt is owed and a
financial debt is defined in Section 5(8) to mean a
debt which is disbursed
from any
person and includes a financial debt and
operational debt;”
16. Section 3(6) defines the word ‘claim’. It
reads as: -
“(6) "claim ... operational debt is owed and
includes any person to whom such debt has
been legally assigned or transferred;”
19. Section 3(33) defines the word
operational debt is owed and includes any person to
whom such debt has been legally assigned or
transferred;
(21) "operational debt" means ... operational debt' is conclusion drawn by this Tribunal
contrary to the scheme of the Code. The 'operational debt' as defined in
Section
notice, includes the
interest, basically for the reason that 'debt' is defined under Section 2(ha) ,
of Act, 2002 to mean, the meaning ... learned
standing counsel for the appellant/Bank is that since the debt defined
includes interest, the claim that is raised by the Bank
Goyal Mg Gases Private Limited vs Neelachal Ispat Nigam Limited (Ninl) & ... on 11 March
person to whom a financial
debt is owed and a financial debt is defined in Section 5(8) to
mean a debt which is disbursed ... financial debt is defined as meaning a "debt".
"Debt" is defined by Section 3(11) of the Code as follows
operational debt is owed and includes any person to
whom such debt has been legally assigned or
transferred;
(21) "operational debt" means ... operational debt' is conclusion drawn by this Tribunal
contrary to the scheme of the Code. The 'operational debt' as defined in
Section
person to whom a financial
debt is owed and a financial debt is defined in Section 5(8) to
mean a debt which is disbursed ... financial debt is defined as meaning a "debt".
"Debt" is defined by Section 3(11) of the Code as follows
These definitions make the distinction between Operational
Debt and Financial Debt. As seen from above, 'financial debt' is an
inclusive and non-exhaustive ... debt' and if so, whether this is
'financial debt' or 'operational debt or any other debt. The Hon'ble
Supreme
