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In a significant development, the Supreme Court on Thursday (April 25) held that debt would be treated as an operational debt only if the claim subject matter of the debt has some connection or.

Mithu jainAbhays okaPankaj mithalJustice abhays okaSupreme court on thursdayNational company law appellate tribunalSupreme courtJustices abhayFinancial creditorCorporate insolvency resolution processCourt explains test to determine debtFinancial debtOperational debtDeposit amount hasCommercial effect of borrowingReflects corporate debtor