https://www.taxtmi.com/caselaws?id=421943 Rental or lease dues for immovable office space were treated as not falling within "operational debt" under Section 5(21) of the Insolvency and Bankruptcy Code, 2016, because they do not arise from the provision of goods, services, employment, or a statutory debt owed to the Government or local authority. The Tribunal noted conflicting appellate views but followed the later binding view rejecting rent-based claims as operational debt. On that basis, the rental arrears could not support a Section 9 insolvency petition, and the claim was held outside the Code's operational debt framework, leaving other remedies available in law. en-us Thu, 21 Apr 2022 00:00:00 +0530 Thu, 05 May 2022 08:34:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421943 Rental or lease dues for immovable office space were treated as not falling within "operational debt" under Section 5(21) of the Insolvency and Bankruptcy Code, 2016, because they do not arise from the provision of goods, services, employment, or a statutory debt owed to the Government or local authority. The Tribunal noted conflicting appellate views but followed the later binding view rejecting rent-based claims as operational debt. On that basis, the rental arrears could not support a Section 9 insolvency petition, and the claim was held outside the Code's operational debt framework, leaving other remedies available in law. Case-Laws Insolvency and Bankruptcy Thu, 21 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421943