Whether an advance amount for supply of goods can be considered ...

Advance Payment for Goods Not Operational Debt Per Section 5(20) of Insolvency and Bankruptcy Code.

August 31, 2020

Case Laws     Insolvency and Bankruptcy     AT

Whether an advance amount for supply of goods can be considered as an Operational Debt under Section 5(20) of the I&B Code? - the advance amount paid by the Respondent No. 1 to Respondent No. 2 for supply of Sugar is not an Operational Debt, even if Respondent No. 2 failed to supply the Sugar to Respondent No. 1. - AT

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