26/09/2018

Where workmen/employees are Operational Creditors, the application may be made either by an Operational Creditor in an individual capacity or as a joint capacity by one of them who is duly authorized for such purpose – Mr. Suresh Narayan Singh Vs. Tayo Rolls Ltd. – NCLAT New Delhi

Section 5(20) read with Section 5(21) of the ‘I&B Code’ makes it clear that the workmen of a Company come within the meaning of ‘Operational Creditor’. If Sections 8 & 9 are read with Form-5, it will be clear that the person authorized to act on behalf of the ‘Operational Creditor’ is entitled to file an application under Section 9. Therefore, where workmen/employees are ‘Operational Creditors’, the application may be made either by an ‘Operational Creditor’ in an individual capacity or as a joint capacity by one of them who is duly authorized for such purpose.

Where workmen/employees are Operational Creditors, the application may be made either by an Operational Creditor in an individual capacity or as a joint capacity by one of them who is duly authorized for such purpose – Mr. Suresh Narayan Singh Vs. Tayo Rolls Ltd. – NCLAT New Delhi Read Post »

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