Advance payment is covered within the definition of Operational Debt

Chipsan Aviation Private Limited Vs Punj Llyod Aviation Limited (NCLAT Delhi) NCLAT Delhi held that rejection of Section 9 application holding that advance payment made by Operational Creditor to the Corporate Debtor does not fall within the four corners of the Operational Debt is unsustainable as it is settled low that advance payment is covered within the definition of Operational Debt. Facts- The appellant advanced an amount to the Respondent. Appellant filed a complaint against Corporate Debtor with the Registrar of Companies. A demand notice u/s 8 of the Insolvency and Bankruptcy Code, 20...