The appeal arises from an order dated 22.08.2022 passed by the Adjudicating Authority, National Company Law Tribunal, New Delhi, dismissing a Company Petition No. (IB)-1498(PB)/2019 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) by the Operational Creditor, Clicbrics Technologies Pvt. Ltd. (formerly Redbrics Ites India Pvt. Ltd.), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Ansal Housing Limited, for outstanding brokering commission.
Clicbrics Technologies Pvt. Ltd. (formerly Redbrics Ites India Pvt. Ltd.), the Operational Creditor, entered into a Memorandum of Understanding (MoU) with Ansal Housing Limited, the Corporate Debtor, to act as the exclusive real estate agent for brokering the sale/purchase of units in the Ansal Town, Meerut project from 10.07.2018 to 31.12.2018. The Operational Creditor raised invoices for brokering commission, but the Corporate Debtor stopped making payments from 10.10.2018. The Operational Creditor sent a demand notice under Section 8 of IBC on 27.03.2019, claiming Rs. 14,70,943.90. The Corporate Debtor replied on 09.04.2019, stating the claims were illegal. The Operational Creditor filed a Section 9 IBC application, which the Adjudicating Authority dismissed,
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Operational Creditor and Corporate Debtor…
Corporate Debtor stopped…
The appeal arises from an order dated 22.08.2022 passed by the Adjudicating Authority, National Company Law Tribunal, New Delhi, dismissing a Company Petition No. (IB)-1498(PB)/2019 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) by the Operational Creditor, Clicbrics Technologies Pvt. Ltd. (formerly Redbrics Ites India Pvt. Ltd.), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Ansal Housing Limited, for outstanding brokering commission.
Clicbrics Technologies Pvt. Ltd. (formerly Redbrics Ites India Pvt. Ltd.), the Operational Creditor, entered into a Memorandum of Understanding (MoU) with Ansal Housing Limited, the Corporate Debtor, to act as the exclusive real estate agent for brokering the sale/purchase of units in the Ansal Town, Meerut project from 10.07.2018 to 31.12.2018. The Operational Creditor raised invoices for brokering commission, but the Corporate Debtor stopped making payments from 10.10.2018. The Operational Creditor sent a demand notice under Section 8 of IBC on 27.03.2019, claiming Rs. 14,70,943.90. The Corporate Debtor replied on 09.04.2019, stating the claims were illegal. The Operational Creditor filed a Section 9 IBC application, which the Adjudicating Authority dismissed,
…Operational Creditor and Corporate Debtor…
Corporate Debtor stopped…