A two-member NCLAT bench held that Central or State Tax Departments entitled for dues are 'operational creditors' under the Insolvency & Bankruptcy Code.

The appellate tribunal also said that the March 8 order of the National company Law Tribunal (NCLT) Ahmedabad-bench approving ArcelorMittal plan to be implemented in 'letter and spirit'

A two-member NCLAT bench, headed by Justice S J Mukhopadhaya, has said that it would hear the RBI on the issue.

A two-member bench headed by Justice S J Mukhopadhaya directed ArcelorMittal to deposit the amount with the Committee of Creditors (CoC).

Earlier, debt-ridden RCom in its plea before the NCLAT said that it wants to voluntarily go back into the insolvency process, as it will help to sell its assets in a time-bound manner.

Essar Steel directors had challenged Ahmedabad-bench of National Company Law Tribunal's nod to global steel giant ArcelorMittal SA's bid for the debt-laden company.

Reliance Communications has approached the tribunal seeking the release of income tax refunds to clear dues of Ericsson. Lenders of RCom have opposed the plea.

While RCom and its financial lenders fight over the Rs 260 crore tax refund that the company wants to tap to repay Ericcson, the appellate tribunal warns that failure to make the payment will compel it to pass orders for insolvency.