Receiver of goods who paid advance is operational creditor: NCLAT Chandigarh

Kiranakart Technologies Pvt. Ltd Vs Hyretail Technologies Pvt. Ltd (NCLAT Chandigarh) NCLAT Chandigarh held that receiver of goods who has paid advances is an operational creditor. Thus, petition allowed as amount admitted to be paid by Corporate Debtor to the Operational Creditor received in excess as advance meets the threshold limit for initiating CIRP u/s 9. Facts- Kiranakart Technologies Pvt. Ltd. (Operational Creditor) has filed the present petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating A...