Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
IBC - Highlights / Catch Notes

Home Highlights September 2022 Year 2022 This

Initiation of CIRP - Operational Debt or not - Nature of ...

Insolvency and Bankruptcy

September 7, 2022

Initiation of CIRP - Operational Debt or not - Nature of transaction between the parties for taking over the Company - When the Operational Creditor acted in pursuance of the Proposed Development Agreement between the parties, the amount paid by the Operational Creditor of Rs. 3 Crores plus Rs. 1 Crore was towards providing services by the Operational Creditor, the same is clearly an “Operational Debt” - AT

View Source

 


 

You may also like:

  1. Corporate Insolvency Resolution Process - existence of eligible debt - Operational Creditor had provided security services to the Corporate Debtor and maintained a...

  2. Initiation of Corporate Insolvency Resolution Process - financial creditor - home buyers - failure to pay assured return /monthly rent - The applicants fall within the...

  3. Initiation of CIRP - A combined reading of Sections 8 and 9 of the 'I&B Code' leaves no room for doubt that the payment of unpaid operational debt has to be unqualified...

  4. Validity of Winding up order - Antrix, which initiated the proceedings for winding up, is neither a financial creditor nor an operational creditor nor a corporate...

  5. Initiation of CIRP - since the I&B Code is not a complete Code, provisions of Limitation Act are attracted to proceedings under it before NCLT and NCLAT as far as...

  6. Initiation of Corporate Insolvency Resolution Process - financial creditor - If there were any doubt in the nature of transaction, same got cleared as even according to...

  7. Corporate insolvency process - Power of Board to decide amount is to be paid to the ‘Financial Creditor’ or ‘Operational Creditor’ including the liquidation value - SC...

  8. Corporate insolvency process - Corporate Debtor has failed to demonstrate that there was a pre-existing dispute in regard to quality and standard of goods supplied by...

  9. Initiation of CIRP - Insurance Company has made payment to the Operational Creditor of its claim - third party liability - Liability of Corporate debtor to discharge its...

  10. Initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Debt or not - courier service agreement for delivery service - the applicant...

 

Quick Updates:Latest Updates