NCLAT, IBC Section 9 application valid despite decree holder not being an operational creditor: Case of Venus Buildtech India Pvt Ltd vs Senbo Engineering Ltd, NCLAT Delhi Judgement dated 12th March 2025. The Adjudicating Authority (AA) had dismissed the application solely on the ground that, having obtained a decree from a civil court for the outstanding operational debt, it could no longer be considered an operational creditor under the IBC. NCLAT emphasised that IBC does not intend to create a separate class of ‘decree holders’ that would exclude them from being either financial or operational creditors based on the origin of the debt. It set aside the AA order, and revived the application. (NCLAT Delhi Judgement dated 12/03/2025)