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 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 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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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
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Related to operational creditor

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

  • Creditor has the meaning set forth in Section 3.3.

  • Subordinated Creditors means all creditors the indebtedness of which is subordinated, in the event of the Winding-Up of DSB, in right of payment to the claims of depositors and other unsubordinated creditors of DSB other than those whose claims rank or is expressed to rank by operation of law or contract pari passu with, or junior to, the claims of the Noteholders. For this purpose indebtedness shall include all liabilities, whether actual or contingent;