A key element that differentiates the IBC from previous legislation governing corporate insolvency is the distribution waterfall in the event of liquidation.
Tag: operational creditor under ibc
Operational Debt Includes Advance Payment Made to a Corporate Debtor for the supply of Goods or Services: SC
A debt arising from an advance payment given to a corporate debtor for the supply of goods or services would be deemed an operational debt.
An Operational Creditor with an Arbitral Award can proceed as a Decree Holder
The National Company Law Tribunal has paved the way for operational creditors to revive their debt and proceed as decree holder.
How Operational Creditors can revive their time-barred debt: An analysis of the Mekko Steel Case
There is a certainty that the time-barred debt can be revived even after the lapse of an initial period of limitation which is 3 years.
When Resolution Plan can be challenged by the aggrieved Person
The resolution plan can be challenged by an aggrieved person as per the grounds mentioned in Sub-Section (3) of Section 61 of the Code.
join For Updates