https://www.taxtmi.com/caselaws?id=426527 The Tribunal held that the mobilization advance given by the Appellant to the Corporate Debtor did not qualify as a Financial Debt under Section 5(8) of the Insolvency and Bankruptcy Code. However, the Tribunal determined that the advance should be considered an Operational Debt under Section 5(21) of the Code. Consequently, the Tribunal allowed the appeal, instructing the Resolution Applicant to treat the Appellant's claim as an Operational Debt and make payment accordingly under the approved Resolution Plan. en-us Wed, 17 Aug 2022 00:00:00 +0530 Sat, 20 Aug 2022 09:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426527 The Tribunal held that the mobilization advance given by the Appellant to the Corporate Debtor did not qualify as a Financial Debt under Section 5(8) of the Insolvency and Bankruptcy Code. However, the Tribunal determined that the advance should be considered an Operational Debt under Section 5(21) of the Code. Consequently, the Tribunal allowed the appeal, instructing the Resolution Applicant to treat the Appellant's claim as an Operational Debt and make payment accordingly under the approved Resolution Plan. Case-Laws Insolvency and Bankruptcy Wed, 17 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426527