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TMI Blog2022 (1) TMI 261X X X X Extracts X X X X X X X X Extracts X X X X ..... fy as an Operational Creditor he must have supplied the goods or rendered service to the Corporate Debtor, which is not the proposition in the present case and on the other, as per the agreement dated 01.12.2016 filed by the Applicant, it is the Corporate Debtor who is required to supply the goods to the Applicant, claiming to be Operational Creditor. Further, the default in the present case has arisen since the Corporate Debtor had failed to repay the deposit which is made by the Applicant - Thus, the failure to repay the deposit amount would not fall within the meaning of operational debt as stipulated under Section 5(21) of IBC, 2016 and as a consequent thereto, the Petitioner does not qualify to be an Operational Creditor as defined u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad, II Floor, Alwarpet, (LVR Centre No. 7), Chennai - 600 018. As per Part III of the application, the Operational Creditor has not proposed the name of the Interim Resolution Professional and left it to the discretion of this Tribunal to appoint the IRP. 3. Part IV of the application signifies the amount of debt to the tune of ₹ 2,63,47,302/- (Rupees Two Crore Sixty-Three Lakh Forty-Seven Thousand Three Hundred and Two only) as the outstanding dues that is payable by the Corporate Debtor. It is averred in the application that, the last default occurred from July 2017 till 03.03.2021. Part V of the application describes the particulars of Operational Debt, documents, records and evidence of default. 4. It was submitted that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIRP against the Corporate Debtor. 8. The Learned Counsel for the Corporate Debtor in his counter averred that the Operational Creditor had not supplied any goods or service to the Corporate Debtor and had not raised any invoice on this behalf and further argued that the claim of Operational Creditor will not come under the purview of 'Operational Debt' and the Applicant will not come under the definition of' 'Operational Creditor' as per the provisions of IBC, 2016 and the present application filed under Section 9 of IBC, 2016 is not maintainable. 9. The Learned Counsel for the Corporate Debtor further argued the Applicant suppressed the fact that Corporate Debtor had supplied goods of value ₹ 10,31,36,811/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of debt has become due and payable and is not 1 [paid] by the debtor or the corporate debtor, as the case may be; Sec. 5 (20) 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; Sec. 5 (21) 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; 11. From the averments made in the Application, it is not in dispute that, it is the Corporate Debtor who has supplied goods to the Operational Creditor and n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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