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Credit facilities availed of through Corporate Credit Cards create ‘ financial debt’ for which IBC can be invoked

March 28, 2019[2019] 103 taxmann.com 324 (Article)
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Like human beings, ‘Corporations’ being branded as ‘artificial legal persons’ also get sick. The sickness could be for reasons and types like structural, managerial, market related, financial etc. The Corporate sickness that is proposed to be considered in later paragraphs is ‘ financial sickness’.
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