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2021 (6) TMI 113 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditor - arrears of lease rent - Operational debt or not - existence of debt and dispute or not - HELD THAT:- The corporate debtor has taken the premises on lease based upon the lease agreement executed between the corporate debtor and the operational creditor. The lease agreement provides for payment of lease rent for the use of premises and other services rendered by the operational creditor, hence, there cannot be a dispute that the corporate debtor is liable to pay the consideration for use of such facilities and, therefore, the lessor has got a claim to receive such payment as creditor irrespective of its classification as operational creditor or other creditor. Accordingly, we reject the contention that the outstanding sum is not a claim within the meaning of Sec. 3(6) of Insolvency & Bankruptcy Code, 2016. It is apparent that rental obligation are to be considered as operational debt and consequently claim of operational creditor. Secondly, observation in para 4.3.3 make it absolutely clear that raw material and other inputs cannot be sole criterion to define the scope of term "services" - if a restricted meaning is given then the amount payable to consultancy, adviser etc. who play an important role in running of organisation will not be able to initiate CIRP and which cannot surely be an intention of legislature - the arrears of lease rent are operational debt. Accordingly, this contention of the corporate debtor is rejected. Thus, in this view of the matter, the provision of Regulation 32 of the Corporate Insolvency Resolution Process could not be pressed into service to interpret provision of Section 5(21) of the Code. Thus, considering the facts and circumstances of the case, applicable legal provisions and recent judicial precedents as well, we are of the view that there is no merit in any of the claims made by the Corporate Debtor - The application filed by the Operational Creditor is otherwise complete and defect free and this application also complies with all requirements of the Code and Regulations made thereunder. Application admitted - moratorium declared.
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