• COURTNCLAT Principal Bench
• TITLE/CORAM VIBRUS HOMES PVT. LTD. v. ASHIMARA HOUSING PVT. LTD. AND ANR. Chairperson Ashok Bhushan
  Technical Member Dr. Alok Srivastava
  Technical Member Shreesha Merla
  Company Appeal (AT)

The Appellate Tribunal has held that an interest free security deposit towards advance license fee will qualifies as an operational debt under the Insolvency & Bankruptcy Code, 2016. The appellant filed an appeal under Section 61 of the Code before NCLAT against the order dated 21.12.2021 of NCLT New Delhi wherein NCLT initiated CIRP against them.