Under the current legal framework, Operational Creditors are not entitled to any payment if the amount due to them during liquidation is NIL – Sai Balaji Facility Vs. CA Ramchandra Dallaram Choudhary, RP for Adico Forge Pvt. Ltd. and Ors. – NCLAT New Delhi
The statutory protection granted to the operational creditor in Section 30(2)(b) is that they shall not be paid any amount less than as mentioned in Section 30 (2) (b). Appellant case in the Appeal is not that the Appellant was entitled for any payment as per Section 30(2)(b) which has been denied in the Resolution Plan.
