{"id":255333,"date":"2021-10-08T14:00:06","date_gmt":"2021-10-08T08:30:06","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=255333"},"modified":"2021-11-03T09:25:33","modified_gmt":"2021-11-03T03:55:33","slug":"debit-acknowledged-in-emails-cirp-initiated-resultantly","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/08\/debit-acknowledged-in-emails-cirp-initiated-resultantly\/","title":{"rendered":"NCLT | Debt acknowledged in emails, CIRP initiated resultantly-Appoints IRPM and declares moratorium"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>National Company Law Tribunal, New Delhi Bench, New Delhi &#8211;<\/strong>The Coram of P.S.N Prasad, Judicial Member and Narender Kumar Bhola,\u00a0 Technical Member were inclined to allow the process of CIRP, considering the debt acknowledged by the corporate debtor.<\/p>\n<p style=\"text-align: justify;\">In the pertinent matter the corporate debtor approached the operational creditor for supply of image scanner manufactured by the operational creditor. It was alleged that the operational creditor had to send various reminders through emails, text messages and phones for the payment of the goods purchased by the corporate debtor. Pursuant to which even a demand notice was duly served upon.The petitioner thus submitted that since corporate debtor has acknowledged the debt, therefore the petition under Section 9 of IBC, 2016 should be allowed and the CIR process to be initiated against the corporate debtor.<\/p>\n<p style=\"text-align: justify;\">The Tribunal after perusing the written submissions and arguments advanced by the operational creditor was of the opinion that the corporate debtor through emails has acknowledged the debt. Resultantly, the Tribunal was inclined to admit the application to initiate the process of CIRP of the corporate debtor. And further declared moratorium, and appointed an Insolvency Resolution Professional to take charge of the respondent corporate debtor.<\/p>\n<p style=\"text-align: justify;\">It further stated that the supply of essential goods or services of the corporate debtor shall not be terminated, suspended or interrupted during moratorium period.[CSII India Pvt. Ltd. v. Telexcell Information Systems Limited, IB-411\/ND\/2020, 05-10-2021]<\/p>\n<hr \/>\n<p><span style=\"color: #333300;\">Agatha Shukla, Editorial Assistant has reported this brief.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: justify;\">Counsel for the Parties:<\/p>\n<p style=\"text-align: justify;\">Operational Creditor:<\/p>\n<p style=\"text-align: justify;\">Kshitiz Karjee &amp; Mrinal Agarwal (Advocates)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Company Law Tribunal, New Delhi Bench, New Delhi &#8211;The Coram of P.S.N Prasad, Judicial Member and Narender Kumar Bhola,\u00a0 Technical Member <\/p>\n","protected":false},"author":67011,"featured_media":162604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[47445,43781,31346,44110,22074,12521],"class_list":["post-255333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-acknowledge","tag-cirp","tag-debt","tag-irp","tag-moratorium","tag-nclt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NCLT | Debt acknowledged in emails, CIRP initiated resultantly-Appoints IRPM and declares moratorium | SCC Times<\/title>\n<meta name=\"description\" content=\"Debit acknowledged in emails, CIRP initiated resultantly\" \/>\n<meta name=\"robots\" content=\"index, follow, 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NCLT initiates insolvency proceedings against Logix City Developers","author":"Bhumika Indulia","date":"April 2, 2022","format":false,"excerpt":"National Company Law Tribunal: The Coram of Bachu Venkat Balaram Das (Judicial Member) and Narender Kumar Bhola (Technical Member) initiates insolvency proceedings against Logix City Developers due to default in payment. The Operational Creditors, Colliers International (India) Property Services Private Limited sought an order to initiate the Corporate Insolvency Resolution\u2026","rel":"","context":"In &quot;Case Briefs&quot;","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":304677,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/10\/13\/default-occurred-when-post-dated-cheques-bounced-nclt-directs-to-initiate-insolvency-process-scc-blog\/","url_meta":{"origin":255333,"position":1},"title":"Default occurred when post-dated cheques bounced; NCLT directs to initiate insolvency process","author":"Ritu","date":"October 13, 2023","format":false,"excerpt":"NCLT held that the Corporate Debtor failed to prove a pre-existing dispute to justify the rejection of the Section 9 application.","rel":"","context":"In &quot;Case Briefs&quot;","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\/08\/national-company-law-tribunal.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":294481,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/06\/13\/nclat-operational-creditor-cannot-seek-cirp-section-9-ibc-exist-real-dispute-legal-news\/","url_meta":{"origin":255333,"position":2},"title":"Operational creditor cannot seek to initiate CIRP against Corporate Debtor when real dispute exists: NCLAT","author":"Ritu","date":"June 13, 2023","format":false,"excerpt":"The NCLAT set aside Adjudicating Authority's order initiating CIRP of the Corporate Debtor.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"national company law appellate tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":268652,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/06\/18\/can-default-in-payment-of-instalments-under-the-settlement-agreement-be-defined-as-an-operational-debt-nclt-decides\/","url_meta":{"origin":255333,"position":3},"title":"Can default in payment of instalments under the settlement agreement be defined as an operational debt? NCLT decides","author":"Editor","date":"June 18, 2022","format":false,"excerpt":"National Company Law Tribunal, New Delhi: The bench of Abni Rajan Kumar Sinha, Judicial Member and Hemant Kumar Sarangi, Technical Member has held, that default made in payment of instalment amount as per the terms of the settlement agreement does not fall under the definition of operational debt. Facts of\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Financial Creditor","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/NCLT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/NCLT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/NCLT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/NCLT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/NCLT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":255301,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/07\/nclt-deducing-from-the-acts-and-the-tactics-of-the-corporate-debtor-failing-the-test-of-legality-initiates-cirp\/","url_meta":{"origin":255333,"position":4},"title":"NCLT | Deducing from the acts and the tactics of the corporate debtor failing the test of legality, initiates CIRP","author":"Editor","date":"October 7, 2021","format":false,"excerpt":"National Company Law Tribunal, Mumbai Bench, Mumbai- The Coram of Ashok Kumar Borah, Judicial Member, and Shyam Babu Gautam, Technical Member while allowing the company petition, ordered for initiation of Corporate Insolvency Resolution Process (CIRP). The Bench stated that, \u201cThe Operational Creditor has successfully demonstrated and proved the debt and\u2026","rel":"","context":"In &quot;Case Briefs&quot;","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":283315,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/02\/07\/operational-creditor-application-nclat-corporate-insolvency-resolution-process-cirp-mistake-demand-notice-no-prejudice-admitted\/","url_meta":{"origin":255333,"position":5},"title":"NCLT| A mistake in demand notice does not make an application defective unless some prejudice is suffered resulting from such mistake","author":"Editor","date":"February 7, 2023","format":false,"excerpt":"While deciding the present matter dealing with mistake in demand notice, NCLT held that \u201cthe Corporate Debtor has not and would not be prejudiced by fact that Operational Creditor has mentioned the wrong date of default due to its inadvertence.\u201d","rel":"","context":"In &quot;Case Briefs&quot;","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\/12\/MicrosoftTeams-image-395.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/255333","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=255333"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/255333\/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=255333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=255333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=255333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}