IMP ::: Insolvency and Bankruptcy Code, 2016 – Sections 5(8) and 43 – Mortgage by a Corporate debtor to secure debts of third party not “Financial Debt” within meaning of Section 5(8) – Whether lenders of Jaiprakash Associates Limited could be treated as financial creditors, HELD it cannot be said that the corporate debtor owes them any ‘financial debt’ within the meaning of Section 5(8) of the Code; and hence, such lenders of Jaiprakash Associates Limited do not fall in the category of the ‘financial creditors’ of the corporate debtor Jaypee Infratech Limited – Appeals are allowed

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