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Insolvency Law In Review - December 2020

Insolvency Law In Review - December 2020
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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 ....

Anup Sushil Dubey , Marketing Federation Of India Ltd , National Agriculture , Services Tax , Bankruptcy Law Reforms Committee , Appellate Authority , Court Analysis , Co Operative Marketing Federation , India Ltd , Central Government , State Government , Operational Creditor , Corporate Debtor , License Agreement , Demand Notice , Adjudicating Authority , Suspended Board , Operational Debt , Law Reforms Committee , Consumer Protection Act , Central Goods , Services Tax Act , அனுப்பி சுஷில் டுபேய் , சந்தைப்படுத்தல் கூட்டமைப்பு ஆஃப் இந்தியா லிமிடெட் , சேவைகள் வரி , திவால்நிலை சட்டம் சீர்திருத்தங்கள் குழு ,