Lease Rental is Operational Debt under IBC, 2016: NCLAT

Jaipur Trade Expocentre Private Limited Vs Metro Jet Airways Training Private Limited (NCLAT Delhi) We have noticed above that Section 3(33) of the Code deals with ‘transaction’. Agreement dated 15.04.2017 is fully covered within the meaning of word ‘transaction’ as defined in Section 3(33). We may also need to look into the meaning of expression ‘operation’. The word ‘operation’ is derived from the word ‘operate’. Various expressions relating to ‘operation’ and ‘operate’ have been defined. For example ‘Operating Cost’ and ‘Operating Profit or Loss’ have bee...