Initiation of CIRP - Corporate Debtor failed to make repayment ...

Courier Service Debt Not Operational, Applicant Not Creditor Under IBC Section 5(20) in CIRP Case.

October 10, 2020

Case Laws Insolvency and Bankruptcy Tri

Initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Debt or not - courier service agreement for delivery service - the applicant cannot be treated as Operational Creditor under Section 5(20) of the IBC because the Operational Creditor means a person to whom an operational debt is owed and include any person to whom such debt has been legally assigned or transferred - Tri

View Source

← Previous Next →

Initiation of CIRP - Corporate Debtor failed to make repayment ...

Courier Service Debt Not Operational, Applicant Not Creditor Under IBC Section 5(20) in CIRP Case.

October 10, 2020

Case Laws Insolvency and Bankruptcy Tri

You may also like:

Initiation of CIRP - Operational Debt or not - Nature of transaction between the parties for taking over the Company - When the Operational Creditor acted in pursuance...

Corporate Debtor failed to repay operational debt of rent to Operational Creditor as per lease deed. Operational Creditor consistently pressed for outstanding dues...

Continuation of CIRP proceedings when the operational debts have been paid by the corporate debtors - Appellant cannot get away from liability of interest by saying that...

Section 53(1) of the Insolvency and Bankruptcy Code (IBC) provides for the order of priority in the distribution of liquidation assets. Financial debts owed to unsecured...

Classification of a security deposit made by the appellant for a lease deed with the corporate debtor, as either a financial debt or an operational debt under the...

Maintainability of section 9 application - Operational credit or not? - In the CIRP what amount Operational Creditor i.e. Appellant is entitled or receives are different...

CIRP - Service of notice when admitted claim of Operational Creditors is 10% - It is held that it is incumbent upon the RP to serve notice of each meeting of the CoC to...

Initiation of CIRP - operational debt claimed by RCL was due and payable or not - While the initial operational debt was cleared, issues related to GST payments and...

Initiation of CIRP - the operational creditor is a sole proprietorship firm and would fall within the definition of a person. An Operational Creditor means a person to...

Challenge to an approved Resolution Plan where no consideration was given to payment to an Operational Creditor. The key points are: Section 30(2)(b) mandates that...

Maintainability of an application for initiation of Corporate Insolvency Resolution Process (CIRP) u/s 9 of the Insolvency and Bankruptcy Code (IBC). The key points are:...

CIRP initiated against the Corporate Debtor terminated upon reaching full and final settlement with the Operational Creditor who filed Section 7 application. Quantum of...

Claim of Tax Dues after the Approval of Resolution Plan - CIRP process - Operational Debt or not - no claim was filed by the Appellants before the Resolution...

Operational Debt or not - The observation of this Tribunal in the above case in respect of definition of ‘service’ under Consumer Protection Act, 2019 and Central Goods...

The NCLAT upheld the admission of the Section 7 application filed by the Financial Creditor (Respondent No.1) for initiating CIRP against the Corporate Debtor. It held...

Quick Updates: