Supreme Court of India · 2021-07-26
M/S ORATOR MARKETING PVT. LTD. vs M/S SAMTEX DESINZ PVT. LTD.
- Citation / case number
- SC 2021/9171
- Court
- Supreme Court of India
- Petitioner
- M/S ORATOR MARKETING PVT. LTD.
- Respondent
- M/S SAMTEX DESINZ PVT. LTD.
- Author
- HON'BLE MS. JUSTICE INDIRA BANERJEE
- Bench
- HON'BLE MR. JUSTICE V. RAMASUBRAMANIAN HON'BLE MS. JUSTICE INDIRA BANERJEE
Judgment text excerpt
The Supreme Court addressed the issue of whether a person who provides a term loan, free of interest, qualifies as a financial creditor under the Insolvency and Bankruptcy Code, 2016. The court upheld the findings of the NCLAT and NCLT, concluding that the appellant, being an assignee of the debt, does not meet the criteria to initiate the Corporate Resolution Process as they are not a financial creditor. Consequently, the appeal was dismissed.