In a recent ruling, the National Company Law Tribunal, Kolkata Bench, has held that the loan advanced to online gaming firm Omnibay Private Limited carried the “time value of money,” thereby qualifying as a financial debt under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The corporate debtor, Omnibay, engaged in digital gaming and entertainment, had sought funds from Ranisati Constructions to meet operational needs. The creditor disbursed ₹2.65 crore in tranches, later confirmed by the debtor’s signed ledger as of 31 March 2025. When repayment was not made by the due date, the creditor issued demand letters on 31 March and 10 April 2025, seeking full payment within…