Web14 Nov 2024 · Union of India, the Supreme Court interpreted the provisions of Section 5(8)(f) of the IBC in a manner similar to that done in the La-Fin Judgements, stating that the … Web11 Aug 2024 · Section 5 (8) defines ‘financial debt’ as a debt alongwith interest, if any, which is disbursed against the consideration for the time value of money and includes “any …
HOME BUYERS ARE SECURED FINANCIAL CREDITORS UNDER IBC …
Web13 Aug 2024 · Further, interpreting the Explanation added to Section 5(8)(f) of the Code, the Court further held that allottees/home buyers were included in the main provision, i.e. Section 5(8)(f) with effect from the inception of the Code. The explanation which was added in 2024 merely clarifies the doubts that had arisen. Web14 Aug 2024 · The ruling of the Supreme Court in Pioneer Urban Land and Infrastructure vs. Union of India comes as a breather for home-buyers, as it upholds the constitutional validity of the amendments made last year to section 5(8) of the Insolvency and Bankruptcy Code, 2016 (IBC). Section 5(8) defines ‘financial debt’ as a debt along with interest, if ... john daly favorite beer
India: Put-Option Holders: Financial Creditors Under The IBC?
Web26 Sep 2024 · When we look into the provision of Section 5(8)(f) Explanation (i) and (ii), it is clear that pre-condition for a debt being a Financial Debt is disbursement against the time value of money and when any amount is raised from an allotment under real estate such transaction is also covered under Section 5(8)(f). The pre-condition for application of … Web23 Apr 2024 · Under the section 5 (8) f of the IBC an explanation was inserted which states that “any amount raised from an allottee under a real estate project shall be deemed to be an amount having the commercial effect of a borrowing; and (ii) the expressions, “allottee” and “real estate project” shall have the meanings respectively assigned to ... Web13 Apr 2024 · (8) “financial debt” means a debt alongwith interest, if any, which is disbursed against the consideration for the time value of money and includes— (a) money borrowed against the payment of interest; (b) any amount raised by acceptance under any acceptance credit facility or its de-materialised equivalent; intend university of worcester