Invoice Discounting Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

Application U/S 7 IBC not maintainable if Financial Creditor steps into the shoes of Operational Creditor; NCLAT upholds NCLT’s order

NCLAT held that the application preferred by the appellants in the second appeal under S. 7 IBC has rightly been held to be not maintainable and was rightly relegated to avail their remedy of filing the application under S. 9 IBC in relation to invoice discounting of the receivables by the seller.