Whether the appellant's claim can be classified as a Financial Debt or Operational Debt under the Insolvency and Bankruptcy Code, 2016.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... appellant's claim can be classified as a Financial Debt or Operational Debt under the Insolvency and Bankruptcy Code, 2016. Court's Analysis: * Nature of Transaction: The court examined the nature of the transaction between the parties, focusing on the terms of their agreement. The agreement involved the supply of sugar, with specific clauses relating to penalties for non-delivery, pa .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e appellant filed a Section 9 application, indicating it considered itself an Operational Creditor. The Resolution Professional categorized the claim as operational debt, a stance supported by the Adjudicating Authority. Decision: * The NCLAT upheld the decision of the Adjudicating Authority, ruling that the appellant's claim was an operational debt. * The appeal was dismissed, affirming .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X