Real nature of the transaction to be ascertained to determine whether a claim falls under financial or operational debt: Observes H SC

The Hon’ble Supreme Court (“H SC”) in the matter of Global Credit Capital Limited & Anr v. Sach Marketing Private Limited & Anr[i] has passed common judgement wherein it has upheld the order of National Company Law Appellate Tribunal which categorized lenders as financial creditors for the purpose of Insolvency & Bankruptcy Code, 2016 (“Code”). 

Factual Aspect:

Filed under:
India, Insolvency & Restructuring, Litigation, Dentons Link Legal
Authors:
Ravi Charan Pentapati
Location:
India
Firm:
Dentons Link Legal