NCLT rejects JC Flowers’ claim against HDIL, says collateral alone doesn’t meet IBC standards, ET LegalWorld
The National Company Law Tribunal (NCLT) dismissed a liability claim by JC Flowers ARC Pvt Ltd against Housing Development & Infrastructure Ltd. (HDIL), ruling that the debt did not qualify as a “financial debt” under the Insolvency and Bankruptcy Code (IBC) as it was not due or payable at the time of HDIL’s corporate insolvency […]