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NCLAT Holds Lease Rentals As 'Operational Debt' - Insolvency/Bankruptcy/Re-structuring

the NCLAT dealt with the issue "Can
lease rentals arising out of use and occupation of a cold storage
unit be categorized as 'operational debt' under Section
5(21) of I&B Code?"
Section 5(21) of IBC states that "Operational debt"
means a claim in respect of the provision of goods or services
including employment or a debt in respect of the payment of dues
arising under any law for the time being in force and payable to
the Central Government, any State Government or any local
authority.
Facts
NAFED/Operational Creditor and the Corporate Debtor entered into
a Leave and License Agreement for the usage of cold storage

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