NCLAT held that the Landowners who have not invested any money and are the collaborators in the development agreements cannot be termed as a financial creditor and the said transaction cannot be considered as disbursement against the time value of money.
Time and again it has been held that the Adjudicating Authority before admitting a petition for a Corporate Insolvency Resolution Process has to examine the real nature of the transaction that took place between the parties therein.
Understanding the provisions of IBC: Explore the unsettled parts and landmark judgments that shed light on its applicability.
