Operational Debt - Definition / Legal Terminology and Intorduction - Insolvency and Bankruptcy

As per section 5(21) of the Insolvency and Bankruptcy Code, 2016. Operational Debt means- a claim in respect of the provision of goods or services including employment or; a debt in respect of the payment of dues arising under any law for the time being in force and; payable to the Central Government, any State Government or any local authority;