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Outstanding lease rent falls qualifies as ‘Operational Debt’: NCLT Delhi
Case Law Details
- Case Name
- Unified Credit Solutions Private Limited Vs D S Home Construction Pvt. Ltd (NCLT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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Unified Credit Solutions Private Limited Vs D S Home Construction Pvt. Ltd (NCLT Delhi)
NCLT Delhi held that non-payment of outstanding lease rent falls under the ambit of ‘Operational Debt’ as defined under section 5(21) of the Insolvency and Bankruptcy Code, 2016. Accordingly, application u/s. 9 for initiating CIRP admitted.
Facts- This is a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 by M/s Unified Credit Solutions...
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