Live Help
Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :


Thank you for your details

Our Executive will reach you shortly.

Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session

Once a debt is converted into capital, same cannot be termed as ‘Financial Debt’, CIRP couldn’t be initiated: NCLAT

September 17, 2020[2020] 119 200 (NCL-AT)

IBC: Provisions of section 7 of the I&B Code, 2016 provides for initiation of CIRP by 'Financial Creditor; only and that too, if there is a 'Debt' and 'Default', however, once 'Debt' is converted into 'Capital' it cannot be termed as 'Financial Debt' and appellant cannot be described as 'Financial Creditor', thus, CIRP could not have been initiated

read more
Best view in 1140 x 768