Decree holder qualifies as Financial Creditor when decree is based on financial debt

Rakesh Kumar Jain Vs ADTV Communications Private Limited (NCLAT Delhi)

NCLAT Delhi held that a Decree Holder falls within the purview of the Financial Creditor under the Code, if the decree is based on a financial debt. Accordingly, dismissal of petition u/s. 7 of IBC not justified.

Facts- This is an Appeal u/s. 61 of the Insolvency and Bankruptcy Code, 2016, against the Order dated 24.04.2023 passed by Adjudicating Authority i.e., National Company Law Tribunal-III, New Delhi in the matter of Rakesh Kumar Jain vs ADTV Communications Pvt. Ltd. wherein Appella

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