Lease rentals arising out of use and occupation of a cold storage unit which is for Commercial Purpose is an Operational Debt as envisaged under Section 5(21) of the Code – Anup Sushil Dubey Suspended Board Member Umarai Worldwide (P) Ltd Vs. National Agriculture Co-operative Marketing Federation of India Ltd. – NCLAT New Delhi
NCLAT held that the subject lease rentals arising out of use and occupation of a cold storage unit which is for Commercial Purpose is an ‘Operational Debt’ as envisaged under Section 5 (21) of the Code. Further, in so far as the facts and attendant circumstances of the instant case on hand is concerned, the dues claimed by the First Respondent in the subject matter and issue, squarely falls within the ambit of the definition of ‘Operational Debt’ as defined under Section 5 (21) of the Code.