operational creditor definition

operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred;
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operational creditor means, operational creditor, as defined under the IBC, of the Corporate Debtor.
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operational creditor means a per­ son to whom an operational debt is owed and includes any person to whom such debt has been legally as­ signed or transferred;
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More Definitions of operational creditor

operational creditor means an operational creditor as defined under the Insolvency and Bankruptcy Code or any other Applicable Law.
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operational creditor means a person to whom an operational debt is owed and includes any
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operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred. "Operational debt" means a claim in respect of the provision of goods or services including employment or a debt in respect of the repayment of dues arising under any law for the time being in force and payable to the Central Government, any State Government or any local authority.
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operational creditor means a person to
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operational creditor means a person to whom
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operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred [Section 5(20)]. Cooperative Rabobank U.A. Singapore Branch Vs. Shailendra Ajmera (NCLAT)It is clear that an OC who has assigned or legally transferred any operational debt to an FC, the assignee or transferee shall be considered as an OC to the extent of such assignment or legal transfer. Suresh Narayan Singh Vs. Tayo Rolls Ltd. (NCLAT)The workmen of a Company come within the meaning of an OC in terms of section 5(20) r/w section 5(21) of the Code. Innoventive Industries Ltd. Vs. ICICI Bank & Anr (SC)An OC means a person to whom an operational debt is owed, and an operational debt under section 5(21) means a claim in respect of provision of goods or services. JK Jute Mill Mazdoor Morcha Vs. Juggilal Kamlapat Jute Mills Co. Ltd. (NCLAT)A Trade Union or Association of workmen/employee does not come within the meaning of OC as no services is rendered by the Workmen's Association/Trade Union to the CD to claim any dues which can be termed to be debt as defined in sub- section (11) of section 3 - This has been Overruled by the Supreme Court
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Related to operational creditor

  • financial creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred to;

  • Universal Credit means any payment of Universal Credit payable under the Welfare Reform Act 2012, the Universal Credit Regulations 2013, The Universal Credit (Consequential, Supplementary, Incidental and Miscellaneous Provisions) Regulations 2013, Universal Credit (Miscellaneous Amendments) Regulations 2013 and the Universal Credit (Transitional Provisions) Regulations 2014;

  • National Credit Act means the National Credit Act, 2005 (Act No. 34 of 2005);

  • Material Credit Facility means, as to the Company and its Subsidiaries,

  • Creditor has the meaning set forth in Section 3.3.

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • Unsecured Creditor means the holder of an Unsecured Claim.

  • Federal credit union means a credit union chartered under the Federal Credit Union Act.

  • Personal care services means both physical assis- tance and/or prompting and supervising the performance of direct personal care tasks as determined by the resident's needs and does not include assistance with tasks performed by a licensed health professional.

  • Obligated bank means the issuer of a cashier's check or teller's check or the acceptor of a certified check.