Speculative Investor cannot claim status & benefits as a Financial Creditor u/s 5(8)(f) of Insolvency Bankruptcy Code: NCLT
The Tribunal viewed that the applicants herein cannot be treated as âFinancial Creditorsâ under Explanation (i) of Section 5(8)(f) of the IBC, and CIRP cannot be triggered by them
The Chandigarh bench of the National Company Law Tribunal while adjudicating has held that a speculative investor cannot claim the status and benefits as a Financial Creditor by being an allottee under Section 5(8)(f) of the Insolvency and Bankruptcy Code, 2016 ( IBC, 2016 ). Nikhil Khanna and 87 other people, the Applicants / Financial…
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