Essential Criteria For Financial Creditor Under IBC
In NIKHIL MEHTA AND SONS V. AMR INFRASTRUCTURE LTD.
C.A. (I.B.) No. 543/KB/2017 arising out of C.P. (I.B.)/170/KB/2017
The NCLAT laid down essential criteria’s to be fulfilled for a Creditor to come within the meaning of ‘Financial Creditor’:-
i.A person to whom a ‘Financial debt’ is owed and includes a person whom such debt has been legally assigned or transferred to
ii.The debt along with interest, if any, is disbursed against the consideration for time value of money and include any one or more mode of disbursed as mentioned in clause (a) to (i) of sub-section (8) of Section 5.
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