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TMI Blog2020 (10) TMI 865X X X X Extracts X X X X X X X X Extracts X X X X ..... ax, 2003, he may be treated as Secured Creditor. This contention of the Applicant is also not maintainable in view of section 238 of the IBC. Any dues and services of the Government Departments are considered as Operational Creditor . Under such circumstances, even if, the Applications is/are restored by condoning the delay, the very purpose for which the IA has been filed is not going to succeed as they fall under the category of Operational Creditor as per the provisions of IBC. There are no merits in the application - application disposed off. - IA Nos. 667 and 668 of 2019 in C.P. No. (IB) 206 of 2018 - - - Dated:- 17-2-2020 - Manorama Kumari, Member (J) and Chocklingram Thirunavukkarasu, Member (T) ORDER Manorama Kum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich is under CIRP. In this context, it is appropriate to deal with the definition of Operational Creditor , Financial Creditor and Operational Debt , which are as under: Operational Creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred; 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; Financial Creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been leg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... solution Process in a time-bound manner, shall be frustrated..... 6. The Hon'ble Supreme Court also observed in Civil Appeal Nos. 8337-8338 of 2017, M/s. Innoventive Industries Ltd. V/s ICICI Bank Anr. in para 56 that, It is precisely for this reason that the non-obstante clause, in the widest terms possible, is contained in Section 238 of the Code, so that any right of the Corporate Debtor under any other law cannot come in the way of the Code... . 7. While deciding the issue of Operational Creditor and Financial Creditor, the Hon'ble Supreme Court observed in Swiss Ribbons Pvt. Ltd. Anr. vs. Union of India Ors. [Writ Petition (Civil) No. 99 of 2018 wherein it is inter alia observed that an 'Operational Debt wo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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