Operational Debt cannot be converted into Financial Debt merely on basis of MoU if company was not eligible to advance loan in terms of sec 186(2) of companies act 2013 – Jambudwip Exports and Imports Ltd. Vs. U P Bone Mills Pvt. Ltd. – NCLT New Delhi Bench Court-II

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Withdrawal of the application based on consideration by CoCs and settlement are part of the same process but whatever emerges, same should materialize within the prescribed timelines – Maharashtra Seamless Ltd. Vs. State Bank of India & Ors. – NCLAT New Delhi

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