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2017 (12) TMI 1141 - Tri - Companies LawCorporate insolvency process - petitioner owning the status of operational creditor - proof of eligible debt - Held that:- On reading the definition of operational creditor as envisaged in section 5(20), it is evident that the operational debt directly owed to a person or the operational debt assigned or transferred to a person alone will become operational creditor, not others. It is not the case of the petitioner that any of the creditors assigned or transferred their claim to the petitioner, therefore it cannot claim to itself that it is an operational creditor entitled to make claim for the dues purportedly payable by Crystal were paid by it. As long as debt has not been assigned or transferred to a person, such person cannot be called itself as Operational Creditor by voluntarily making payment of somebody else. Since the right of payment has not been assigned or transferred to this person (Petitioner), this Bench cannot read payments made by this Petitioner would become claim claimable against Crystal by the petitioner owning the status of operational creditor. On reading the provisions of law of this Code in semblance with facts of this case, it is hereby held that the claim made by the petitioner is not a debt, much less an operational debt owed to the petitioner by corporate debtor for want of existence of jural relationship of corporate debtor and operational creditor between them under this Code, henceforth this Petition is hereby dismissed with liberty to the Petitioner to approach before appropriate Forum.
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