NCLT Ahmedabad: Amount Invested In A Joint Venture Project Of A Promoter And Investor Does Not Constitute Financial Debt Under IBC
Sachika Vij
6 Feb 2024 7:15 PM IST

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6 Feb 2024 7:15 PM IST
The National Company Law Tribunal ('NCLT') Ahmedabad, comprising Justice Mrs. Chitra Hankare (Judicial Member) and Mr. Velamur G Venkata Chalapathy (Technical Member) held that the amount invested in a Joint Venture Project of a promoter and investor is not a Financial Debt under Insolvency and Bankruptcy Code, 2016 ('IBC'). Background Facts: GSEC Monarch and Deccan Aviation Pvt....
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