There should be a direct disbursal of the amount owed, Financial Creditor to the Corporate Debtor for the amount to be construed as a ‘Financial Debt’, the transaction should be a direct transaction between the Financial Creditor and the Corporate Debtor – M/s. Actioncor Consultants Pvt. Ltd. Vs. M/s. Viprah Technologies Ltd. – NCLAT Chennai

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The prayer clause of the Operational Creditor seeking directions upon the Corporate Debtor to produce all the documents by way of an affidavit, so that the Operational Creditor may prove its case against the Corporate Debtor is beyond Adjudicating Authority jurisdiction – Trident Fabricators Pvt. Ltd. – NCLT Kolkata Bench

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