Order of attachment and observations as made in the order for recovery does not make the claim of a Creditor as Financial Debt – Agarwal Agencies Pvt. Ltd. & Ors. Vs. Dove Infrastructure Pvt. Ltd. – NCLAT New Delhi
The mere fact that in M/s Dove Infrastructure Private Limited is to set up I.T. Park does not make the disbursement made by Appellant to M/s ABW Infrastructure Ltd. as a Financial Debt against the Corporate Debtor. The disbursement against time value of money is against M/s ABW Infrastructure Ltd. and not against the Corporate Debtor. Further, now coming to the order of District Magistrate, the said order attached the property under Section 4 of Haryana Protection of Interest of Depositors in the Financial Establishment Act, 2013. Order of attachment and observations as made in the order for recovery does not make the claim of Appellant as Financial Debt.