https://www.taxtmi.com/caselaws?id=448187 NCLAT Principal Bench dismissed appellant's challenge to IRP's classification of claim as operational debt rather than financial debt. The dispute arose from a white sugar supply agreement where appellant sought delivery of 5200 MT sugar at fixed price. Court held the agreement clearly established a goods supply transaction, not financial transaction. Appellant's own Section 9 application filing (before CIRP commencement) demonstrated it considered itself operational creditor. Resolution Professional correctly categorized claim as operational debt. Adjudicating Authority's decision upheld, finding no error in classification. Appeal dismissed. en-us Thu, 11 Jan 2024 00:00:00 +0530 Sat, 13 Jan 2024 08:36:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448187 NCLAT Principal Bench dismissed appellant's challenge to IRP's classification of claim as operational debt rather than financial debt. The dispute arose from a white sugar supply agreement where appellant sought delivery of 5200 MT sugar at fixed price. Court held the agreement clearly established a goods supply transaction, not financial transaction. Appellant's own Section 9 application filing (before CIRP commencement) demonstrated it considered itself operational creditor. Resolution Professional correctly categorized claim as operational debt. Adjudicating Authority's decision upheld, finding no error in classification. Appeal dismissed. Case-Laws Insolvency and Bankruptcy Thu, 11 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448187