In the matter of Mironda Trade & Commerce Pvt. Ltd. Vs. Sai Lakshmi Tulasi Ferros Pvt. Ltd. CA(AT)(Ins) No. 1454 of 2019

In the matter of Mironda Trade & Commerce Pvt. Ltd. Vs. Sai Lakshmi Tulasi Ferros Pvt. Ltd. CA(AT)(Ins) No. 1454 of 2019

Insolvency & Bankruptcy

It does not come within the meaning of Operational Creditor as defined under Section 5(20) r/w 5(21) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as ‘I&B Code’) and the application under Section 9 of the I&B Code was not maintainable as held by the Adjudicating Authority.

Admittedly, the Appellant has not supplied any goods nor rendered any services; the Appellant is not an employee of the Corporate Debtor nor is Government Authority, therefore, it does not come within the meaning of Operational Creditor as defined under Section 5(20) r/w 5(21) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as ‘I&B Code’) and the application under Section 9 of the I&B Code was not maintainable as held by the Adjudicating Authority.


In absence of any merit while we condone delay of 14 days in preferring the appeal, the appeal is dismissed.



[Justice S. J. Mukhopadhaya]


Chairperson



[Justice Bansi Lal Bhat]


Member (Judicial)

LEGAL REFERENCES
Form 16 Section 9 IBC Section 5(20)
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