Optiemus Infracom Ltd. v. Indus Mobile Distribution (P) Ltd.

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The Tax Publishers 2019 TaxPub(CL) 0737 (NCLAT-Chen) : (2019) 153 SCL 0304 Optiemus Infracom Ltd. v. Indus Mobile Distribution (P) Ltd. INSOLVENCY AND BANKRUPTCY CODE, 2016, --Initiation of corporate insolvency resolution process by operational creditor --Default in payment of outstanding amount No dispute raised regarding unpaid operational debt --Whether CIRP application admissible --Where corporate debtor had not given notice of dispute or raised any dispute regarding the unpaid operational debt, CIRP was to initiate against the corporate debtor.--Operational creditor supplied mobile handsets and its accessories to the corporate debtor and raised invoice. The operational creditor issued notice under section 8 to the corporate debtor demanding the outstanding amount and the same was delivered at the address of the corporate debtor, however, corporate debtor did not reply to said notice. Therefore, operational creditor filed application under section 9 against corporate debtor. *Held:* It was found that operational creditor filed an affidavit along with application under section 9, wherein, it was deposed that the corporate debtor had not given notice of dispute or raised any dispute regarding the unpaid operational debt. The certificates issued by banks were also filed with the application. The operational creditor fulfilled all the requirements of law for admission of the application. Therefore, said application was admitted. Insolvency and Bankruptcy Code, 2016, Section 9, Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 Rule 6 *Relied:*Institute of Chartered Accountants of India v. B. Ram Goel (2001) 29 SCL 257 *REFERRED :* Arcelormittal India (P) Ltd. v. Satish Kumar Gupta (2018) 150 SCL 354 : 2018 TaxPub(CL) 1116 (SC), Balwant Rai Saluja v. Air India Ltd. (2014) 9 SCC 407, Dilip Singh v. Nuvoco Vistas Corporation Ltd. (2018)149 SCL 731 (NCL--AT) : 2018 TaxPub(CL) 1076 (NCLAT-Del) and Sunil Sanghavi v. Cytech Coatings (P) Ltd. (2019) 151 SCL 97 : 2019 TaxPub(CL) 165 (NCLAT-Del) FAVOUR : In favour of applicant A.Y. : IN THE NATIONAL COMPANY LAW TRIBUNAL, CHENNAI BENCH CH. MOHD SHARIEF TARIQ, J.M. Optiemus Infracom Ltd. v. Indus Mobile Distribution (P) Ltd. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers 2019 TaxPub(CL) 0737 (NCLAT-Chen) : (2019) 153 SCL 0304

Optiemus Infracom Ltd. v. Indus Mobile Distribution (P) Ltd.

INSOLVENCY AND BANKRUPTCY CODE, 2016,

--Initiation of corporate insolvency resolution process by operational creditor --Default in payment of outstanding amount No dispute raised regarding unpaid operational debt --Whether CIRP application admissible --Where corporate debtor had not given notice of dispute or raised any dispute regarding the unpaid operational debt, CIRP was to initiate against the corporate debtor.--Operational creditor supplied mobile handsets and its accessories to the corporate debtor and raised invoice. The operational creditor issued notice under section 8 to the corporate debtor demanding the outstanding amount and the same was delivered at the address of the corporate debtor, however, corporate debtor did not reply to said notice. Therefore, operational creditor filed application under section 9 against corporate debtor. Held: It was found that operational creditor filed an affidavit along with application under section 9, wherein, it was deposed that the corporate debtor had not given notice of dispute or raised any dispute regarding the unpaid operational debt. The certificates issued by banks were also filed with the application. The operational creditor fulfilled all the requirements of law for admission of the application. Therefore, said application was admitted.

Insolvency and Bankruptcy Code, 2016, Section 9,

Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 Rule 6

Relied:Institute of Chartered Accountants of India v. B. Ram Goel (2001) 29 SCL 257

REFERRED : Arcelormittal India (P) Ltd. v. Satish Kumar Gupta (2018) 150 SCL 354 : 2018 TaxPub(CL) 1116 (SC), Balwant Rai Saluja v. Air India Ltd. (2014) 9 SCC 407, Dilip Singh v. Nuvoco Vistas Corporation Ltd. (2018)149 SCL 731 (NCL--AT) : 2018 TaxPub(CL) 1076 (NCLAT-Del) and Sunil Sanghavi v. Cytech Coatings (P) Ltd. (2019) 151 SCL 97 : 2019 TaxPub(CL) 165 (NCLAT-Del)

FAVOUR : In favour of applicant

A.Y. :

IN THE NATIONAL COMPANY LAW TRIBUNAL, CHENNAI BENCH

CH. MOHD SHARIEF TARIQ, J.M.

Optiemus Infracom Ltd. v. Indus Mobile Distribution (P) Ltd.