WRIT PETITION– BRIEF ANALYSIS

A writ petition is issued against the proceedings going on in lower courts and in such proceeding, the lower court is exceeding its powers. Once the writ of prohibition is allowed either by the Supreme Court or in High Court the proceedings of the lower court come to an end.

NCLAT explains essential criteria of Financial Creditor

In the present case, the NCLAT held that the Appellants were acting as investors, the money they gave to the Respondents was in the nature of a loan, satisfying the condition of amount “disbursed against consideration for time value of money,” and the committed returns were in the nature of “interest.”