JSA Prism (Insolvency Law) – February 2022

An ‘operational debt’ will include a debt arising from a contract in relation to the supply of goods or services from the corporate debtor

In a recent case, the Supreme Court held that a debt which arises out of advance payment made to a corporate debtor for supply of goods or services by the corporate debtor would also be considered as an “operational debt” under Section 5(21) of the Insolvency & Bankruptcy Code.

To read further details, please refer to the below document.