Ashok Sehgal, the suspended director of UEE Electrical Engineers Pvt. Ltd., has filed an appeal against Xylem Water Solutions India Pvt. Ltd. before the NCLAT. The appellant's counsel argued that no Operational Debt became due because no payment was received from BUID Company. The relevance of this fact is that it forms the basis of the appeal, challenging the existence of an operational debt that would trigger insolvency proceedings. The court has taken cognizance of this submission and has issued notices to the respondent, setting a timeline for reply and rejoinder. The constitution of the Committee of Creditors (CoC) has been temporarily stayed pending further orders.

Ashok Sehgal, the suspended director of UEE Electrical Engineers Pvt. Ltd., has filed an appeal against Xylem Water Solutions India Pvt. Ltd. before the NCLAT. The appellant's counsel argued that no Operational Debt became due because no payment was received from BUID Company. The relevance of this fact is that it forms the basis of the appeal, challenging the existence of an operational debt that would trigger insolvency proceedings. The court has taken cognizance of this submission and has issued notices to the respondent, setting a timeline for reply and rejoinder. The constitution of the Committee of Creditors (CoC) has been temporarily stayed pending further orders.