from any person and includes a financial
debt and operational debt;”
32. Section 3(12) defines default, which is a crucial
ingredient of Section ... debt’ and an ‘operational debt’.”
(Emphasis supplied)
49. Further, in Global Credit Capital Limited (supra),
elucidating on the meaning of “financial debt” as defined
Provident Fund is not an 'asset', but a
'debt', is not open to the respondents in view of Ghanshyam Mishra
(supra ... Section 3(11) of the IB Code which defines 'debt' as a
liability or obligation in respect of a claim which
defines Debt as "debt"
shall have the meaning assigned to it in clause (g) of section
2 of the Recovery of Debts ... interest
from the debt due."
The Division Bench held that "debt due" under Section
18(1) SARFAESI is defined with reference
defines Debt as "debt" shall have
the meaning assigned to it in clause (g) of section 2 of the Recovery of
Debts ... interest from the debt due."
The Division Bench held that "debt due" under Section 18(1) SARFAESI
is defined with reference
amount other than debt
cannot lie before Tribunal. He refers to definition of term
"Debt" as defined under Section ... payable does not fall within the
definition of term debt, as defined under the Act. In this
context, it is held that the scheme
involve any interest or time value of money component. The
IBC defines debt as "any liability or obligation in respect of a claim which ... Therefore, the debt and default has been established
and the defaulted debt, according to us is a financial debt as
funds disbursed by the financial
pertinent to note
that this provision applies only to "debt" as defined
under the IBC and not to regulatory penalties
imposed ... certain
categories of debts. Section 79(15) of the IBC defines
"excluded debts" to include liabilities arising from
fines imposed by courts
8260 of 2025
50. The expression “'debt” has been defined in Section 3(11) of the
Code, which reads as under:
3. Definitions ... from any person and includes a
financial debt and operational debt;
51. The expression “claim” has been defined in Section 3(6) of the
Code
operational debt is owed and includes
any person to whom such debt has been legally
assigned or transferred;
(21) "operational debt" means ... debt is owed and includes any person to whom
such debt has been legally assigned or transferred.
"Operational debt" has been defined
operational debt is owed and includes
any person to whom such debt has been legally
assigned or transferred;
(21) "operational debt" means ... debt is owed and includes any person to whom
such debt has been legally assigned or transferred.
"Operational debt" has been defined
