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;
Sample 1Sample 2Sample 3
operational creditor means, operational creditor, as defined under the IBC, of the Corporate Debtor.
Sample 1Sample 2Sample 3
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;
Sample 1Sample 2Sample 3

More Definitions of operational creditor

operational creditor means an operational creditor as defined under the Insolvency and Bankruptcy Code or any other Applicable Law.
Sample 1Sample 2
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.
Sample 1Sample 2
operational creditor means a person to whom
Sample 1
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
Sample 1
operational creditor means a person to whom an operational debt is owed and includes any
Sample 1
operational creditor means a person to
Sample 1

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;

  • Additional Credit Party means each Person that becomes a Guarantor by execution of a Joinder Agreement in accordance with Section 5.10.

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

  • Original Credit Agreement shall have the meaning assigned to such term in the recitals hereto.

  • Subordinated Creditor means any creditor of Tenant which is a party to a Subordination Agreement in favor of Landlord.

  • Creditor has the meaning set forth in Section 3.3.

  • DIP Lender means a lender under the DIP Facility.

  • Salvage operation means any business, trade or industry engaged in whole or in part in salvaging or reclaiming any product or material, including but not limited to metals, chemicals, shipping containers or drums.