Tagged “operational-debt”

3 articles on operational-debt.

TribunalNational Company Law Appellate Tribunal

Lyka Labs v. Modi Lifecare: invoices not mandatory for Section 9 IBC admission under a Technical Guidance Agreement

NCLAT Principal Bench (Bhushan CP, Mitra and Baroka) holds that where a Technical Guidance Agreement itself creates a minimum-royalty obligation, the absence of invoices does not defeat a Section 9 application; ₹63 lakh deposit ordered failing which CIRP admission follows.

Valkya Editorial·2 Jun 2026·9 min

TribunalNational Company Law Appellate Tribunal, Principal Bench, New Delhi

Akshay Kumar Bhatia v. Cue Learn: celebrity endorsement fee is not operational debt

NCLAT held on 9 February 2026 that a contested endorsement-fee instalment, plausibly linked to actual service-days, gives rise at most to a damages claim, not to operational debt under s.5(21) IBC; CIRP cannot be a recovery forum.

Valkya Editorial·1 Jun 2026·8 min

Supreme CourtSupreme Court of India

Global Credit Capital v. Sach Marketing: financial vs operational debt

On 25 April 2024, the Supreme Court laid down a substance-over-form test under IBC s.5(8), holding an interest-bearing security deposit a financial debt despite a service contract label.

Valkya Editorial·1 Jun 2026·8 min