Liquidator is correct in rejecting belated claim as she does not have any authority to entertain the same when the distribution of assets has been completed by the Liquidator and an Application seeking order of dissolution of the Company is pending before the Tribunal – Aditya Birla Finance Limited Vs. CS Padma Appana,  Liquidator of M/s. RE Cables and Conductors Private Limited – NCLT Hyderabad Bench

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The Corporate Debtor cannot be treated as MSME and cannot take the benefit of MSME when on the date of filing application under section 9 of the Code Corporate Debtor does not fall under the criteria of MSME – POSCO India Pune Processing  Center Private Limited  Vs. Mr. Dhaval Jitendrakumar Mistry  Resolution Professional of   M/ s Poggenamp Nagatsheth  Powertronics Private Limited – NCLT Ahmedabad Bench

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The amount raised under a FPA would not come within the definition of a financial debt unless it bears the dual attributes of having been disbursed against the consideration for time value of money and has the commercial effect of a borrowing – State Bank of India Vs. Mr. Rajendra Bhuta IRP of Prabhat Technologies (India) Limited – NCLT Mumbai Bench

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