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.”

Gemini’s bankruptcy petition stands rejected before NCLT

The National Company Law Tribunal has dismissed an insolvency application filed by Gemini Innovations, raising doubts over the “unnatural” facts listed by the company in its filing