Operational Creditor can only Trigger CIRP on Default in Payment: NCLAT [Read Order]

Sections 8 and 9 of the IBC stated that an operational creditor can only initiate the CIRP process in the event of an uncontested debt and a payment default

By Yogitha S. Yogesh - On March 17, 2025 1:33 pm - 2 mins read

Operational Creditor - Trigger - CIRP - Default in Payment - NCLAT - CIRP on Default in Payment - taxscan

The Appeal filed by the operational creditors was dismissed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi (NCLAT), which is composed of Justice Yogesh Khanna (Member (Judicial) and Mr. Ajai Das Mehrotra (Member (Technical)) since there was an existing dispute between the corporate debtor and the operational creditor. The National Company Law…

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