https://www.taxtmi.com/caselaws?id=424686 The larger Bench found that the judgment in Company Appeal (AT) (Ins.) No.331 of 2019 did not lay down the correct law regarding the definition of 'Operational Debt' under the Insolvency and Bankruptcy Code. It held that the claim for payment of license fees for the use of commercial premises constitutes 'Operational Debt' under Section 5(21) of the IBC. The Bench directed the Adjudicating Authority to admit the Application under Section 9 of the IBC, allowing the Operational Creditor to proceed with the insolvency process. en-us Tue, 05 Jul 2022 00:00:00 +0530 Wed, 06 Jul 2022 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424686 The larger Bench found that the judgment in Company Appeal (AT) (Ins.) No.331 of 2019 did not lay down the correct law regarding the definition of 'Operational Debt' under the Insolvency and Bankruptcy Code. It held that the claim for payment of license fees for the use of commercial premises constitutes 'Operational Debt' under Section 5(21) of the IBC. The Bench directed the Adjudicating Authority to admit the Application under Section 9 of the IBC, allowing the Operational Creditor to proceed with the insolvency process. Case-Laws Insolvency and Bankruptcy Tue, 05 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424686