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Overdue towards goods supplied would be operational debt; CIRP was to be admitted on default in payment

May 10, 2019[2019] 106 222 (NCLT - Ahd.)

IBC: Where amount claimed by operational creditor from corporate debtor was in respect of supply of goods, same would be 'operational debt'; on corporate debtor's failure to make payment as per settlement agreement and on confirmation that operational debt was due and payable, CIRP application was to be admitted

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