CA Pankaj Agarwal

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CA Pankaj Agarwal CA With 13+year experience in Ind As advisory and Insolvency and bankruptcy procedures

29/08/2026

🎉 A New Professional Milestone!

Proud to share that I am now a Qualified Insolvency Professional and can act as a Resolution Professional, Liquidator & other capacities under the Insolvency & Bankruptcy Code (IBC).

Grateful for this new journey and looking forward to serving with integrity, professionalism and commitment.

CA Pankaj Gupta
Insolvency Professional

20/08/2026

Hello Friends,
Now not only CA

Here is this.....

CA Pankaj Gupta
Insolvency Professional | Chartered Accountant

04/02/2026

Why an Operational Creditor files an insolvency case

An Operational Creditor files an application under the IBC for recovery of its outstanding operational debt arising from supply of goods or services.

When repeated follow-ups fail and the debtor commits default, the creditor approaches NCLT under Section 9 with the objective that the corporate debtor enters the resolution process and payment is received through a resolution plan or, if required, liquidation.

Thus, IBC is invoked by an Operational Creditor as a legal remedy for recovery of dues, and not as a penal or coercive action.

03/02/2026

What is Operational Debt (Section 5(21))

Debt arising from:
Supply of goods
Rendering of services
Employment dues (salary, wages)
Government dues (GST, Income Tax, customs, PF, ESI, etc.)

Examples of Operational Creditors
Supplier of raw material
Service provider (consultant, auditor, transporter, IT vendor)
Employee with unpaid salary
Landlord for unpaid rent (post SC clarification)
Government authorities for statutory dues

Who is NOT an Operational Creditor
Banks & NBFCs (they are Financial Creditors)
Bond holders
Anyone whose debt is purely financial in nature (loan, interest, EMIs)

03/02/2026

When can an Operational Creditor file application under Section 9 (IBC)?

Operational Debt must be due and in default

An application under Section 9 can be filed only when an operational debt has become due and payable and the Corporate Debtor has failed to pay on the due date.

Minimum Default Threshold – ₹1 Crore
An Operational Creditor can file a Section 9 application only if the amount of default is ₹1 crore or more, as notified by the Central Government under Section 4 of the IBC.

02/02/2026

Who can file insolvency under IBC?

Under the Insolvency & Bankruptcy Code, an insolvency application can be filed by a Financial Creditor (banks or lenders), an Operational Creditor (suppliers, service providers, employees, or government departments), or even by the company itself. The basic condition is a default of ₹1 crore or more.
No worries if the Default Amount is below 1 crore and gets resolution for your business another option is also available in IBC Code ...
Just connect to me for any knowledge sharing content and help your clients and business....

02/02/2026

I extend a warm welcome to everyone and appreciate your participation. I will share my professional insights on topics such as Ind As, business valuation, insolvency and bankruptcy code, business debt recovery procedures, and other technical advisory areas. I am looking forward to knowledge sharing connection with you.

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Dwarka Sector 19
Delhi

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