Definition
Under the IBC, a person to whom an "operational debt" (arising from supply of goods, services, employment, or government dues) is owed. Operational creditors can trigger CIRP by filing under Section 9 of the IBC after issuing a 10-day demand notice. They are not members of the CoC but can attend CoC meetings without voting rights if their aggregate dues exceed 10% of total debt.
Need Expert Advice on Operational Creditor?
For specific advice on how Operational Creditor applies to your debt recovery matter, consult Advocate Subodh Bajpai — LLM, MBA (XLRI Jamshedpur). 25+ years of exclusive banking and debt recovery practice across DRT, SARFAESI, IBC, and NI Act.
Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates