Claim arise out of the judgment of Commercial Court is not a Financial Debt – M/s Kewalram Textiles Private Limited Vs. Mr. Chinnam Poorna Chandra Rao – NCLT Hyderabad
July 29, 2020
A reference to the commercial dispute definition as per sec. 2(c) of the Commercial Courts Act 2015 shows that the transaction entered into between the Applicant and Respondent squarely falls within Clause supra and therefore the Commercial Court had jurisdiction over disputes arising out of such commercial transactions. As a result, the above said Court could entertain the claim Of the Applicant herein and duly adjudicated upon the same. In fact, if the said transaction was not a commercial transaction but was financial in nature, the Commercial Court could not have adjudicated upon the same. Therefore, it is obvious that the claim made by the Applicant herein pertains to a commercial transaction between the parties.