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TMI Blog2017 (12) TMI 1141X X X X Extracts X X X X X X X X Extracts X X X X ..... e dues purportedly payable by Crystal were paid by it. As long as debt has not been assigned or transferred to a person, such person cannot be called itself as Operational Creditor by voluntarily making payment of somebody else. Since the right of payment has not been assigned or transferred to this person (Petitioner), this Bench cannot read payments made by this Petitioner would become claim claimable against Crystal by the petitioner owning the status of operational creditor. On reading the provisions of law of this Code in semblance with facts of this case, it is hereby held that the claim made by the petitioner is not a debt, much less an operational debt owed to the petitioner by corporate debtor for want of existence of jural rela ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CTS No. 443/13 (P) of Village Marol, Andheri BSD and sold the ownership right of the Building standing under Plot, comprising of ground (stilt parking) and four upper floors and an exclusive terrace aggregating to approximately 15068.43 sq.ft. The Counsel further stated in the Deed of Assignment-cum-Sale dated 14.8.2015 executed in favour of the Petitioner by Crystal agreeing to pay all the Municipal Property Taxes and all other outgoings with respect to the property abovementioned with the apportionment of outgoings with the Petitioner. Crystal further agreed that the transfer fees, subject to the limit of ₹ 25,000, payable to Marol Co-operative Industrial Estate for transfer of the leasehold rights in the said plot in the name of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... after statutory notice under sec. 434(l)(a) of the Companies Act, 1956 was given, this Petitioner has been compelled to file this winding up Petition under secs. 433 and 434 of the Companies Act, 1956 before the Honorable High Court of Mumbai. Owing to jurisdictional transfer of the winding up petitions from Hon ble High Court to NCLT, this Petition has today been taken up for hearing after requisite form has been filed. 4. As to contentions raised by the Petitioner side, Crystal Counsel raised defense saving that it is not an operational debt as defined under I B Code henceforth this case is liable to be dismissed as misconceived. 5. On hearing the submissions of either side, now the point for consideration is as to whether the claim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner can claim these dues as payable to the petitioner considering it as operational creditor. 10. On reading the definition of operational creditor as envisaged in section 5(20), it is evident that the operational debt directly owed to a person or the operational debt assigned or transferred to a person alone will become operational creditor, not others. 11. It is not the case of the petitioner that any of the creditors assigned or transferred their claim to the petitioner, therefore it cannot claim to itself that it is an operational creditor entitled to make claim for the dues purportedly payable by Crystal were paid by it. As long as debt has not been assigned or transferred to a person, such person cannot be called itself as Oper ..... X X X X Extracts X X X X X X X X Extracts X X X X
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