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2019 (10) TMI 1431 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Unpaid lease - claim within the meaning of provision of Sec.3(6) of Insolvency & Bankruptcy Code, 2016 or not - Operational debt or not - insufficiency of stamp duty on lease agreement - enforceable document or not - recovery of amount spent on interior/furnishing and loss of business - deficiency in services provided by the operational creditor - pre-existing dispute between the parties or not. Scope of the term 'claim' - HELD THAT:- An outstanding sum in respect of commercial transactions need to fall within the definition of term "claim" at the first instance and, thereafter, issue of classification of such debt as to whether it is a financial debt or operational debt or other debt would arise. Basically the term "claim" is a mirror image of the term "debt" in a sense that claim is a right to payment of one person in respect of a liability or obligation of another person - the term "claim" has been given widest possible scope so that creditors rights are not restricted/narrowed down due to legal technicalities and litigation and, consequently, objects of Insolvency & Bankruptcy Code, 2016 are not defeated. Meaning of term "debt" and "claim" - HELD THAT:- The Insolvency & Bankruptcy Code, 2016 recognises three types of debts giving birth to three different types of creditors i.e. financial creditors, operational creditors and other creditors who have been given different rights, powers and treatment under the Insolvency & Bankruptcy Code, 2016. Therefore, classification of debt as financial, operational or other debt is extremely important, for example, CIRP can be initiated only by financial creditors or operational creditors or corporate debtor itself as per Sec.6 of the Code whereas other creditors have been given right to lodge their claims during CIRP only. The decision of the NCLT Delhi Bench in the case of MRS PARMOD YADAV, W/O SH. RAM CHANDER YADAV, MRS. SNEHA YADAV, W/O SH. SIDDHARTH YADAV VERSUS DIVINE INFRACON PVT. LTD. [2017 (11) TMI 194 - NATIONAL COMPANY LAW TRIBUNAL, NEW DELHI] support our view for the reason that in the present case operations of the corporate debtor are being carried from the leased premises only, hence, the out put is produced from the said premises - In the present case, the issue is related to classification of creditor based upon nature of debt who can initiate CIRP under Sec.6 of Insolvency & Bankruptcy Code, 2016, hence, a wider and expansive meaning would meet the objects of Insolvency & Bankruptcy Code, 2016 as compared to a restricted/limited meaning given to such terms. As evident that the words "goods" or "services " have not been defined in Sec.5(21) of Insolvency & Bankruptcy Code, 2016. It is settled principle of judicial interpretation that purfusive construction should be made based upon the objects and reasons of an Act before looking meaning of undefined terms elsewhere or externally. Thus, it is apparent that rental obligation are to be considered as operational debt and consequently claim of operational creditor. Cost incurred on furnishing/meeting the leased premises habitable - HELD THAT:- The same cannot be considered at the stage of admission of an application filed under Sec.9 of Insolvency & Bankruptcy Code, 2016, in view of the legal position that the same needs can be considered during CIRP. Deficiency in services - HELD THAT:- There are no material evidence has been brought on record in support of such claim. Therefore, this contention of the corporate debtor is also rejected. The application filed by the operational creditor is otherwise complete in all respects and is in accordance with the requirement of Insolvency & Bankruptcy Code, 2016 read with relevant Regulation thereto - application admitted - moratorium declared.
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