https://www.taxtmi.com/caselaws?id=438172 A premature termination of an executed service agreement that created no right, title or interest in immovable property gave rise to a right to payment for breach and therefore constituted operational debt under the Insolvency and Bankruptcy Code. The agreement was not compulsorily registrable because it did not create or extinguish any proprietary interest in the premises, and the fact that it was executed on unstamped paper did not defeat the claim in the section 9 proceeding where the contract had been acted upon. The rejection order was set aside and the application directed to be admitted. en-us Tue, 23 May 2023 00:00:00 +0530 Thu, 25 May 2023 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438172 A premature termination of an executed service agreement that created no right, title or interest in immovable property gave rise to a right to payment for breach and therefore constituted operational debt under the Insolvency and Bankruptcy Code. The agreement was not compulsorily registrable because it did not create or extinguish any proprietary interest in the premises, and the fact that it was executed on unstamped paper did not defeat the claim in the section 9 proceeding where the contract had been acted upon. The rejection order was set aside and the application directed to be admitted. Case-Laws Insolvency and Bankruptcy Tue, 23 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438172