https://www.taxtmi.com/caselaws?id=395005 The Tribunal dismissed the petition seeking Corporate Insolvency Resolution Process under section 9 of the Insolvency & Bankruptcy Code, 2016 as the debt did not qualify as an 'Operational Debt'. The Operational Creditor's claim for a refund due to quality standards issues did not meet the criteria specified in the definition of 'Operational Debt' under section 5(21) of the IBC, 2016. The Tribunal referenced legal provisions and precedents to support its decision, highlighting the specific requirements for debt classification. en-us Tue, 11 Feb 2020 00:00:00 +0530 Fri, 01 May 2020 19:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395005 The Tribunal dismissed the petition seeking Corporate Insolvency Resolution Process under section 9 of the Insolvency & Bankruptcy Code, 2016 as the debt did not qualify as an 'Operational Debt'. The Operational Creditor's claim for a refund due to quality standards issues did not meet the criteria specified in the definition of 'Operational Debt' under section 5(21) of the IBC, 2016. The Tribunal referenced legal provisions and precedents to support its decision, highlighting the specific requirements for debt classification. Case-Laws Insolvency and Bankruptcy Tue, 11 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395005