https://www.taxtmi.com/caselaws?id=289923 The National Company Law Tribunal, Kolkata, rejected M/s. Daya Engineering Works Pvt. Ltd.'s application for recovery of a balance amount from M/s. UIC Udyog Ltd. with interest, stating they did not qualify as an 'Operational Creditor.' The Tribunal did not conclusively determine their status as a 'Financial Creditor' but advised seeking clarification from the Adjudicating Authority under the Insolvency and Bankruptcy Code. The appeal was disposed of without costs, emphasizing the importance of accurate claim categorization and clarity in legal proceedings for fair adjudication. en-us Thu, 26 Jul 2018 00:00:00 +0530 Sun, 30 Aug 2020 13:28:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289923 The National Company Law Tribunal, Kolkata, rejected M/s. Daya Engineering Works Pvt. Ltd.'s application for recovery of a balance amount from M/s. UIC Udyog Ltd. with interest, stating they did not qualify as an 'Operational Creditor.' The Tribunal did not conclusively determine their status as a 'Financial Creditor' but advised seeking clarification from the Adjudicating Authority under the Insolvency and Bankruptcy Code. The appeal was disposed of without costs, emphasizing the importance of accurate claim categorization and clarity in legal proceedings for fair adjudication. Case-Laws Insolvency and Bankruptcy Thu, 26 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289923