No recovery of ‘listing fee’ dues as operational debt under IBC

BSE Ltd. Vs Asahi Infrastructure & Projects Ltd. (NCLAT Delhi)

Conclusion: Since assessee had initiated the insolvency proceedings against the Corporate Debtor only as a recovery mechanism to recover dues of ‘listing fees’ however, IB Code was not meant for recovery of dues of creditors.

Held: Assessee-Bombay Stock Exchange Limited (for short ‘BSE’) filed an Application under Section 9 of the IB Code against t

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