MUMBAI : The Mumbai bench of the National Company Law Tribunal (NCLT) has directed the liquidator of insolvent firm Bharati Defence and Infrastructure Ltd to admit Union Bank of Indias claim amounting to Rs208 crore as an operational debt.
The liquidator had rejected the state-owned banks claim in February 2019 saying it did not qualify as a financial debtas had been initially filedunder the provisions of the Insolvency and Bankruptcy Code (IBC). The liquidator had also said the claim had not been filed in time.
Section 5(21) of the IBC defines operational debt as a claim in respect of the provision of goods or services including employment.
Union Bank of Indias Hong Kong branch had filed an application before NCLT asking for the …
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