Whether transactions between the Family Companies were out to help each other is a Financial Debt under Insolvency Code? – Sushil Kumar Bajaj Vs. Mandyati Dealcomm Pvt. Ltd. and Anr. – NCLAT New Delhi
Hon’ble NCLAT observed that transaction between the two Companies were out to help each other, which were the family Companies and amounts were given as help to one Family Company by other Family Companies which amount was repaid from time to time. The transaction was never a Financial Debt nor any loan transaction.
