Whether Recovery of ‘Arrears of Lease Rent’ Can Be Claimed As ‘Operational Debt’ Within the Meaning of Section 5(21) of the I&B Code, 2016?

Section 2(a) of the Central Goods & Services Tax Act, 2017 (hereinafter referred to as the ‘CGST Act') states that, “any lease, tenancy, easement, license to occupy land is a supply of services”, further, Section 2(b) of the CGST Act makes it clear that, “any lease or letting out of the building including a commercial, industrial or residential complex for business or commerce, either wholly or partly, is a supply of services”.Section 5(21) of the Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as the ‘I&B Code') defines the operational debt as a claim in respect of the provision of goods or services including employment or a debt in respect of the repayment dues arising under the law for the time being in force and payable to the Central Government, any State Government or any local authority