Operational Creditors definition
Operational Creditors means the creditors that have extended operational debt in respect of goods or services to the Petitioner Company, the details and proportion of which, as at July 31, 2018, are laid down in ScheduleE hereto;
Operational Creditors 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 Creditors liquidation value” means the amount that would be due to operational creditors, in the event that the corporate debtor were to be liquidated on the insolvency commencement date and its assets were distributed in accordance with section 53 of the Code;
Examples of Operational Creditors in a sentence
Certain Operational Creditors (as defined hereinafter) have filed in respect of the Petitioner Company to commence corporate insolvency resolution process under the Insolvency & Bankruptcy Code, 2016 of the Petitioner Company in the National Company Law Tribunal, Ahmedabad Bench.