Section 3(10) of IBC defines Creditor and even in the said definition a Decree Holder cannot be excluded to file an Application under the Code. Going by the definition 3(10) of Creditor, it includes Financial Creditor, Operational Creditor – Ashok Agarwal Proprietor of M/s Shree Marketing Vs. Amitex Polymers Private Limited – NCLAT New Delhi

Even a ‘person’ who is a proprietor of a firm is an ‘Individual’ as per Section 3(23) inclusive definition of The Insolvency and Bankruptcy Code 2016, in the considered opinion of this Court. As such, the Appellant is not incompetent in his ‘Individual’ capacity as proprietor of M/s Shree Marketing, New Delhi. Section 3(10) of The Insolvency and Bankruptcy Code 2016 defines ‘Creditor’ and even in the said definition a ‘Decree Holder’ cannot be excluded to file an Application under the Code. Going by the definition 3(10) of ‘Creditor’, it includes ‘Financial Creditor’, ‘Operational Creditor’.

Section 3(10) of IBC defines Creditor and even in the said definition a Decree Holder cannot be excluded to file an Application under the Code. Going by the definition 3(10) of Creditor, it includes Financial Creditor, Operational Creditor – Ashok Agarwal Proprietor of M/s Shree Marketing Vs. Amitex Polymers Private Limited – NCLAT New Delhi Read Post »