A person to whom a debt has been properly assigned or transferred is also included in the definition of “Financial Creditor” under Section 5(7) of the IBC.
Tag: section 7 of IBC case laws
Is Adjudicating Authority under obligation to accept an application against a Corporate Debtor u/s 7?
The Adjudicating Authorities have been given discretionary powers under section 7(5)(a) of I&B Code, 2016. The Authorities are required to apply their mind and take into consideration all facts and circumstances.
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