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Trade advance given for doing business and earning profit jointly couldn’t be considered operational debt

October 8, 2020[2020] 120 14 (NCLT - Hyd.)

IBC : Where petitioner gave trade advance to respondent for doing a business and earning handsome profit jointly out of same and corporate debtor failed to repay said advance, amount in question could only be treated as capital contribution in proposed business and same could not be treated as operational debt as per section 5(21)

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