Q: Delineate the citation of Nikhil Mehta & Sons (HUF) & Ors. v. AMR Infrastructures Ltd ?

Ans: It was already held in the Nikhil Mehta & Sons (HUF) & Ors. v. AMR Infrastructures Ltd case that investors who had been promised an “assured return” by real estate companies would fall within the category of financial creditors since the monies owed to them is ‘debt’ as defined under Section 3(11)  of the IBC. Homebuyers, therefore, were considered as financial creditors in those cases where assured returns were guaranteed.

Keywords used:

monies: पैसा

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