The recent judgment by the National Company Law Appellate Tribunal (NCLAT) in  NCC Ltd. v. Golden Jubilee Hotels Pvt. Ltd.[i] sheds light on the treatment of operational creditors under the Insolvency and Bankruptcy Code, 2016 (IBC). This ruling emphasizes the evolving judicial perspective regarding the categorization and sub-classification of operational creditors, highlighting the need for flexibility based on objective considerations.