{"id":234202,"date":"2020-08-19T14:30:01","date_gmt":"2020-08-19T09:00:01","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=234202"},"modified":"2020-08-28T13:20:33","modified_gmt":"2020-08-28T07:50:33","slug":"nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/","title":{"rendered":"NCLT | Petitioner failed to establish a contractual relationship with the corporate Debtor; Tribunal dismisses application"},"content":{"rendered":"

National Company Law Tribunal (NCLT):<\/strong> A Division Bench of Chandra Bhan Singh (Technical Member) and Suchitra Kanuparthi (Judicial Member) dismissed an application that was filed under Section 9 of Insolvency & Bankruptcy Code, 2016 against Bigdream Ventures Private Limited, Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP).<\/p>\n

A partner of the petitioner partnership firm had filed the instant application claiming an amount of Rs 11,03,150 plus interest @ 12% p.a. from the Corporate Debtor. The Petitioner was engaged in providing services of pathology laboratory. The Corporate Debtor was engaged in managing, running and operating hospitals and providing various medical services including and limited to OPD, IPD, ICU and other critical medical facilities. The Corporate Debtor had approached the Petitioner to provide certain pathology services on a regular basis while operating and managing one hospital, for which they demanded interest free refundable deposit of Rs 9,00,000, it was mutually agreed that for the pathology services provided, the petitioner shall issue a monthly-statements containing the details and same shall be immediately paid, in full, upon the receipt. The petitioner had transferred the said amount to the Corporate Debtor, contrary to mutually agreed terms; the Corporate Debtor started making delayed payment.<\/p>\n

The Corporate Debtor on the other hand contended that the petitioner was not registered under the Partnership Act, 1932 and it was merely managing the business another legal entity i.e. \u201cAarogyam Multi-speciality Hospital Pvt. Ltd.\u201d. The contractual relationship is between the Petitioner and Aarogyam Multi-speciality Hospital Pvt. Ltd. and not between the Petitioner and the Corporate Debtor.<\/p>\n

The Tribunal while dismissing the application found that petitioner was an unregistered partnership firm and, there has been the certain business relationship between the petitioner and thus amounts were paid by the Corporate Debtor to the Petitioner, even though the bills\/invoices were actually raised in the name of Arogyam Hospitals who actually engaged the pathological services of the petitioner at the behest of the Corporate Debtor and it was evident that the Invoices were not raised against the Corporate Debtor.<\/p>\n

The facts also revealed that Arogyam Hospital was run by the Corporate Debtor, but there was no contractual relationship between the petitioner and corporate debtor as the basis of the claim is in the name of Arogyam Hospitals.<\/p>\n

The medical Council rules further prohibited such practise of referral fee on the commission basis and therefore such contracts were void and unenforceable contracts. [Shree Pathology Laboratory v. Bigdream Ventures (P) Ltd., 2020 SCC OnLine NCLT 806<\/b><\/a>, decided on 10-08-2020]<\/p>\n

\n

*Suchita<\/span>\u00a0Shukla, Editorial Assistant has put this story together<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

National Company Law Tribunal (NCLT): A Division Bench of Chandra Bhan Singh (Technical Member) and Suchitra Kanuparthi (Judicial Member) dismissed an application <\/p>\n","protected":false},"author":67011,"featured_media":162604,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[43130,30361,35858,33692,43129,43128],"class_list":["post-234202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-contractual-relationship","tag-ibc","tag-legal-entity","tag-medical-council","tag-partnership-act","tag-partnership-firm"],"yoast_head":"\nNCLT | Petitioner failed to establish a contractual relationship with the corporate Debtor; Tribunal dismisses application | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCLT | Petitioner failed to establish a contractual relationship with the corporate Debtor; Tribunal dismisses application\" \/>\n<meta property=\"og:description\" content=\"National Company Law Tribunal (NCLT): A Division Bench of Chandra Bhan Singh (Technical Member) and Suchitra Kanuparthi (Judicial Member) dismissed an application\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-19T09:00:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-08-28T07:50:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/\",\"name\":\"NCLT | Petitioner failed to establish a contractual relationship with the corporate Debtor; Tribunal dismisses application | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg\",\"datePublished\":\"2020-08-19T09:00:01+00:00\",\"dateModified\":\"2020-08-28T07:50:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg\",\"width\":1330,\"height\":887,\"caption\":\"National Company Law Tribunal\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NCLT | Petitioner failed to establish a contractual relationship with the corporate Debtor; Tribunal dismisses application\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe\",\"name\":\"Editor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g\",\"caption\":\"Editor\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_4\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NCLT | Petitioner failed to establish a contractual relationship with the corporate Debtor; Tribunal dismisses application | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/","og_locale":"en_US","og_type":"article","og_title":"NCLT | Petitioner failed to establish a contractual relationship with the corporate Debtor; Tribunal dismisses application","og_description":"National Company Law Tribunal (NCLT): A Division Bench of Chandra Bhan Singh (Technical Member) and Suchitra Kanuparthi (Judicial Member) dismissed an application","og_url":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2020-08-19T09:00:01+00:00","article_modified_time":"2020-08-28T07:50:33+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg","type":"image\/jpeg"}],"author":"Editor","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Editor","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/","url":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/","name":"NCLT | Petitioner failed to establish a contractual relationship with the corporate Debtor; Tribunal dismisses application | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg","datePublished":"2020-08-19T09:00:01+00:00","dateModified":"2020-08-28T07:50:33+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg","width":1330,"height":887,"caption":"National Company Law Tribunal"},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/19\/nclt-petitioner-failed-to-establish-a-contractual-relationship-with-the-corporate-debtor-tribunal-dismisses-application\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"NCLT | Petitioner failed to establish a contractual relationship with the corporate Debtor; Tribunal dismisses application"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe","name":"Editor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g","caption":"Editor"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_4\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":262217,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/02\/22\/can-application-filed-under-s-951-read-with-s-601-ibc-be-rejected-on-ground-that-no-corporate-insolvency-resolution-process-was-pending-against-corporate-debtor-nclat-addresses\/","url_meta":{"origin":234202,"position":0},"title":"Can application filed under S. 95(1) read with S. 60(1) IBC be rejected on ground that no Corporate Insolvency Resolution Process was pending against Corporate Debtor? NCLAT addresses","author":"Bhumika Indulia","date":"February 22, 2022","format":false,"excerpt":"\u00a0If CIRP or Liquidation Proceeding of a Corporate Debtor is pending before a NCLT, application relating to Insolvency Process of Corporate or Personal Guarantor should be filed before same NCLT. National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Dr Alok Srivastava (Technical\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":219804,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/09\/21\/nclat-nclt-new-delhi-in-terms-of-s-601-ibc-held-to-have-jurisdiction-in-s-7-application-against-corporate-debtor-having-properties-in-up\/","url_meta":{"origin":234202,"position":1},"title":"NCLAT | NCLT, New Delhi in terms of S. 60(1) IBC, held to have jurisdiction in S. 7 application against Corporate Debtor having properties in UP","author":"Bhumika Indulia","date":"September 21, 2019","format":false,"excerpt":"National Company Appellate Tribunal (NCLAT):\u00a0A Bench of Justice S.J. Mukhopadhaya (Chairperson); Justice A.I.S Cheema, Member (Judicial) and Kanthi Narahari, Member (Technical) dismissed an appeal filed by the appellant-Director of Corporate Debtor against the order of the National Company Law Appellate Tribunal (New Delhi) whereby it had admitted the application filed\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":248324,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/05\/17\/acknowledgment-of-debt\/","url_meta":{"origin":234202,"position":2},"title":"NCLAT | ‘Balance and Security Confirmation Letter’ is sufficient ‘acknowledgement of debt’ so as to extend limitation period for initiating insolvency proceedings under S. 7 IBC","author":"Bhumika Indulia","date":"May 17, 2021","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): A Division Bench of Justice Venugopal M. (Judicial Member) and V.P. Singh (Technical Member) dismissed an appeal filed against the order of the National Company Law Tribunal, Hyderabad (\"NCLT\"), whereby the NCLT had admitted an application filed by the Financial Creditor\u2212Punjab National Bank under\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":222575,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/11\/27\/nclt-company-petition-fit-for-corporate-insolvency-resolution-process-if-corporate-debtor-fails-to-deny-insolvency-charges-with-proof\/","url_meta":{"origin":234202,"position":3},"title":"NCLT | Company Petition fit for Corporate Insolvency Resolution Process if Corporate Debtor fails to deny insolvency charges with proof","author":"Bhumika Indulia","date":"November 27, 2019","format":false,"excerpt":"National Company Law Tribunal (NCLT): Justice Rajeswara Rao Vittanala (Judicial Member) allowed the Company Petition filed by CloudWalker Streaming Technologies Pvt. Ltd. (Corporate Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 read with Section 6 of the Insolvency and Bankruptcy(Application to Adjudicating Authority) Rules, 2016 against\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":286663,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/10\/financial-creditor-advance-payment-purchase-shares-corporate-debtor-not-financial-debt-section-57-nclt-legal-research-news\/","url_meta":{"origin":234202,"position":4},"title":"Advance paid for purchase of shares of Corporate Debtor does not fall under definition of Financial Debt: NCLT","author":"Ritu","date":"March 10, 2023","format":false,"excerpt":"NCLT held that the amount of advance paid for purchase of shares of the Corporate Debtor does not fall under the definition of Financial Debt as it was not disbursed against the consideration for the time value of money.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-685.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-685.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-685.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-685.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":210477,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/02\/21\/nclt-article-137-of-limitation-act-not-applicable-to-insolvency-application-under-s-7-ibc-where-corporate-debtor-acknowledges-debt-in-its-balance-sheet\/","url_meta":{"origin":234202,"position":5},"title":"NCLT | Article 137 of Limitation Act not applicable to insolvency application under S.7 IBC where corporate debtor acknowledges debt in its balance sheet","author":"Bhumika Indulia","date":"February 21, 2019","format":false,"excerpt":"National Company Law Tribunal, Mumbai:\u00a0The Bench of Bhaskara Pantula Mohan, Member (Judicial) and V. Nallasenapathy, Member (Technical) allowed a petition filed by TJSB Sahakari Bank (\"the Bank)\u00a0for admission of an application\u00a0under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy (Application\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/234202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=234202"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/234202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/162604"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=234202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=234202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=234202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}