Adv Swarnika Aggarwal

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Lease Rent Under the Operational Creditor By Adv. Swarnika Aggarwal

Section 5(8) of Insolvency and Bankruptcy Code, 2016 define the term “financial Debt”:- As per clause (d) of the said section the amount of any liability in respect of any lease or hire purchase contract which is deemed as finance or capital lease under the Indian Accounting Standard or such other accounting standard as may be prescribed. Meaning of Financial or Capital Lease ......

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Sole Proprietorship Firm is eligible to file application u/s 7 & Sec. 9 of IBC and entitled to initiate CIRP against Corporate Debtor By Adv. Swarnika Aggarwal

There are conflicting view of various NCLT benches regarding whether the Sole Proprietorship Firm entitled to file application under Section 7(Financial Creditor) and Section 8 (Operational Creditor) Section 5(7) Financial Creditor: - Financial Creditor means any person to whom a financial debt is owed.Section 5(20) Operational Creditor:-Operational Creditor means any person to whom operational d......

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