Explain the term 'Financial Debt' as defined under the Insolvency and Bankruptcy Code, 2016.

As per section 5(8) of the Insolvency and Bankruptcy Code, 2016 "Financial Debt" means a debt along with interest, if any, which is disbursed against the consideration for the time value of money and includes: money borrowed against the payment of interest; any amount raised by acceptance under any acceptance credit facility or its de-materialised equivalent: any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument: the amount of any liability in respect of any lease or hire purchase contract which is deemed as a finance or capital lease under the Indian Accounting Standards or such other accounting standards as may be prescribed; receivables sold or discounted other than any receivables sold on nonrecourse basis: any amount raised under any other transaction, including any forward sale or purchase agreement, having the commercial effect of a borrowing; any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price and for calculating the value of any derivative transaction, only the market value of such transaction shall be taken into account; any counter-indemnity obligation in respect of a guarantee, indemnity, bond, documentary letter of credit or any other instrument issued by a bank or financial institution: the amount of any liability in respect of any of the guarantee or indemnity for any of the items referred to in sub-clauses (a) to (h) of this clause.