Whether an investment made by the Director of the Company falls under the definition of Operational Debt? – Akshat Pandey Vs. Avighna Films Pvt. Ltd. – NCLT Kolkata Bench
The Adjudicating Authority held in this instant matter the Petitioner, who is also one of the director of the Corporate Debtor, invested money in the Corporate Debtor for production of a movie. In light of the above facts and circumstances we are of the view that an Investment made by the director of the Company does not fall under the purview of an Operational Debt under the Code.