Passing of Decree or Award does not Alter Nature of Operational Debt to Financial Debt: NCLT

Passing of decree or award does not alter nature of operational debt to financial debt, rules NCLT
NCLT - Nature of Operational Debt - Financial Debt - NCLT Mumbai - Nature of Operational Debt to Financial Debt - NCLT Mumbai ruling - TAXSCAN

The Mumbai Bench of the National Company Law Tribunal ( NCLT ) observed that the passing of decree or award does not alter nature of operational debt to financial debt. The present petition has been filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 ( “IBC” ) by Hpcl-Mittal Pipelines Limited. ( “Financial…

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