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2021 (9) TMI 486 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues or not - Operational Creditors - advance paid for supply of goods can be considered as an Operational debt or not - existence of debt and dispute or not - HELD THAT:- Hon'ble NCLAT in the case of SMT. ANDAL BONUMALLA W/O. VENUGOPAL SWAMI BONUMALLA VERSUS VERSUS TOMATO TRADING LLP., SMART LOGIN SOLUTIONS PVT. LTD. [2020 (8) TMI 791 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] has held that an advance amount paid for supply of goods cannot fall within the category of 'Operational Debt'. Thus, the claim of the Operational Creditor in the instant Application which is totally based on the advanced amount of ₹ 7,05,00,000/- paid towards supply of 5000MT Maize and as such, the instant claim cannot be treated as Operational Debt as per Section 5(21) of the IB Code, 2016 nor the Applicant herein be called as Operational Creditor as per Section 5(20) of the IB Code, 2016. Such being the case, the instant Application cannot be admitted U/s. 9 of the Code. Petition dismissed.
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