Application u/s  9 of IBC cannot be rejected solely on ground of Decree Obtained by  Operational Creditor: NCLAT [Read Order]

The bench ruled that an operational creditor does not automatically stop being an operational creditor merely because they have acquired a decree.
IBC - Operational Creditor - NCLAT - TAXSCAN

The National Company Law Appellate Tribunal (NCLAT) New Delhi has ruled that an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (Code) cannot be denied based only on the fact that the operational creditor no longer qualifies as such after receiving a debt decision. The Delhi Metro Rail Corporation (DMRC) issued a…

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