Beetel Teletech Ltd. (Appellant) filed an appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order dated 17.10.2022 passed by the Adjudicating Authority (National Company Law Tribunal, Delhi Bench) in CP(IB) No. 58(ND)2022. The Adjudicating Authority had dismissed the Section 9 application filed by the Appellant seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Arcelia IT Services Pvt. Ltd. (Respondent). The Adjudicating Authority dismissed the Section 9 application on the ground that the Appellant had failed to establish beyond doubt that the unpaid operational debt was subsisting above the minimum threshold limit of Rs.1 crore.
Beetel Teletech Ltd. (Appellant/Operational Creditor) filed a Section 9 application seeking initiation of CIRP against Arcelia IT Services Pvt. Ltd. (Respondent/Corporate Debtor). The Adjudicating Authority dismissed the application because the unpaid operational debt was allegedly below the Rs. 1 crore threshold. The Appellant and Respondent had a Channel Partner Registration Form. The Corporate Debtor raised a purchase order on 25.10.2019, and the Operational Creditor supplied goods and services, raising invoice No. RV1927813879 dated 31.12.2019. Payments remained due despite reminders. A Section 8 demand notice was issued. The Corporate Debtor did not reply to the demand notice. The Appellant claimed an amount of Rs. 1,15,11,486/- including principal and interest.
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Beetel Teletech Ltd. (Appellant) filed an appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order dated 17.10.2022 passed by the Adjudicating Authority (National Company Law Tribunal, Delhi Bench) in CP(IB) No. 58(ND)2022. The Adjudicating Authority had dismissed the Section 9 application filed by the Appellant seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Arcelia IT Services Pvt. Ltd. (Respondent). The Adjudicating Authority dismissed the Section 9 application on the ground that the Appellant had failed to establish beyond doubt that the unpaid operational debt was subsisting above the minimum threshold limit of Rs.1 crore.
Beetel Teletech Ltd. (Appellant/Operational Creditor) filed a Section 9 application seeking initiation of CIRP against Arcelia IT Services Pvt. Ltd. (Respondent/Corporate Debtor). The Adjudicating Authority dismissed the application because the unpaid operational debt was allegedly below the Rs. 1 crore threshold. The Appellant and Respondent had a Channel Partner Registration Form. The Corporate Debtor raised a purchase order on 25.10.2019, and the Operational Creditor supplied goods and services, raising invoice No. RV1927813879 dated 31.12.2019. Payments remained due despite reminders. A Section 8 demand notice was issued. The Corporate Debtor did not reply to the demand notice. The Appellant claimed an amount of Rs. 1,15,11,486/- including principal and interest.
…Corporate Debto…
Operational Creditor…