The respondent was expected to purchase a license for public performance and broadcast of songs, in respect of which the petitioner is an assignee of copyright. This does not satisfy the definition of Operational Debt within the meaning of section 5(21) of the IBC – Novex Communications Private Limited Vs. Four Pillars Event Management Services Private Limited – NCLT Mumbai Bench

In order to access this content you need to login to your account. In case you are not a subscriber, Subscribe here.