JDA entered into, is a contract of reciprocal rights and obligations, both parties are admittedly Joint Development Partners, who entered into a consortium of sorts for developing an Integrated Township & for any breach of terms of contract, Section 7 Application is not maintainable as the amount cannot be construed as ‘Financial Debt’ as defined under Section 5(8) of the Code – M/s. Vipul Limited Vs. M/s. Solitaire Buildmart Pvt. Ltd. – NCLAT New Delhi

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