Supreme Court · 2023 INSC 1023 · Decided 9 November 2023
M/S. Ifci Limited v. Sutanu Sinha & ORS.
- Court
- Supreme Court of India
- Citation
- 2023 INSC 1023 · [2023] 15 S.C.R. 280
- Case number
- CIVIL APPEAL No. 4929/2023
- Decided
- 9 November 2023
- Bench
- SANJAY KISHAN KAUL, SUDHANSHU DHULIA, AHSANUDDIN AMANULLAH (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- IBC Section 62, 3(11)
Headnote
HEADNOTES Issue for consideration: Whether the Compulsorily Convertible Debentures-CCDs with a "put option" and in the event of default on part of ICTL-borrower during the window period, can be said to be really a debt and not an equity. Insolvency - s. 62 - Appeal to Supreme Court - Jurisdiction u/s. 62 - Compulsorily Convertible Debentures-CCDs to be categorised as debt or an equity - On facts, project awarded in terms of Concession Agreement executed between the Authority and IVRCL-ICTL - ICTL was a
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