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Unsecured Loan without any interest and no fixed time to repay didn’t fall under category of financial debt

July 22, 2020[2020] 117 770 (NCLT - Hyd.)

IBC: Where financial creditors claimed to have advanced loan to corporate debtor and corporate debtor had defaulted in repayment of loan amount, since loan was provided as unsecured loan and there was no interest and no time fixed to repay same, said loan would not fall under category of financial debt

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