Operational Creditor should demonstrate its Claim to be treated as Operational Debt under IBC

Kripa Cashew Exports Vs Royals International Trade And Allied Products Pvt. Ltd. (NCLT) In the present case, the first point which arises for consideration is whether the debt falls within the purview of Operational Debt under Section 5 (21) of the I&B Code,2016? To arrive at a decision, this Tribunal has gone through the judgement of Hon’ble National Company Law Appellate Tribunal (‘NCLAT‘) in Jindal Steel and Power Limited v. DCM International Limited, Company Appeal (AT) (Insolvency) No. 288 of 2017, wherein the Appellate Tribunal held as under: “Admittedly, the ...