https://www.taxtmi.com/caselaws?id=438353 The National Company Law Appellate Tribunal (NCLAT) reversed the National Company Law Tribunal's (NCLT) decision regarding the interpretation of Section 5(21) of the Insolvency and Bankruptcy Code 2016 (IBC). The NCLAT broadened the definition of "Operational Debt" to include all parties involved in providing or receiving operational services from the corporate debtor. The case was remanded to the NCLT for further examination of defenses under Section 9 of the IBC. Subsequently, the Civil Appeal was disposed of, and all pending applications were resolved, concluding the legal proceedings related to the interpretation of Sections 5(20) and 5(21) of the IBC. en-us Fri, 27 Jan 2023 00:00:00 +0530 Mon, 29 May 2023 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438353 The National Company Law Appellate Tribunal (NCLAT) reversed the National Company Law Tribunal's (NCLT) decision regarding the interpretation of Section 5(21) of the Insolvency and Bankruptcy Code 2016 (IBC). The NCLAT broadened the definition of "Operational Debt" to include all parties involved in providing or receiving operational services from the corporate debtor. The case was remanded to the NCLT for further examination of defenses under Section 9 of the IBC. Subsequently, the Civil Appeal was disposed of, and all pending applications were resolved, concluding the legal proceedings related to the interpretation of Sections 5(20) and 5(21) of the IBC. Case-Laws Insolvency and Bankruptcy Fri, 27 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438353