Interest free loan to corporate person to be classified as Financial Debt u/s 5(8) of IBC

Orator Marketing Pvt. Ltd. Vs Samtex Desinz Pvt. Ltd. (Supreme Court) Conclusion: Loan to Corporate Person free of interest to be as classified Financial Debt in Section 5(8) of IBC  and therefore, a Financial Creditor was competent to initiate the Corporate Resolution Process under Section 7 of the IBC. Held: The issue arose for consideration was whether a person who gave a term loan to a Corporate Person, free of interest, on account of its working capital requirements was not a Financial Creditor, and therefore, incompetent to initiate the Corporate Resolution Process under Section 7 of t...