# In the matter of Lease Pal India Pvt. Ltd. Vs. ACPL HR Services Pvt. Ltd. CA (AT) No. 312-2017

> NCLAT judgment dated 2017-12-12. Citation: TCN-2017-NCLAT-00017. The appellant, M/s. Lease Pal India Pvt. Ltd., an operational creditor, initially filed an…

- **Court:** NCLAT
- **Order date:** 12 Dec 2017
- **Citation:** TCN-2017-NCLAT-00017
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/lease-pal-india-pvt-ltd-vs-acpl-hr-services-pvt-ltd-ca-e6a7508d

## Summary

### Background

The appellant, M/s. Lease Pal India Pvt. Ltd., an operational creditor, initially filed an application under Section 433(e) of the Companies Act, 1956, before the High Court of Delhi. This application was later transferred to the NCLAT pursuant to Rule 5 of the Companies (Transfer of Pending Proceedings) Rules, 2016. Upon transfer, the appellant requested that the petition be treated as an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code). The Adjudicating Authority rejected the application due to non-compliance with Rule 5 and the absence of requisite information, as per the impugned order dated October 17, 2017.

## Facts

M/s. Lease Pal India Pvt. Ltd. (the Appellant), an operational creditor, initially filed an application under Section 433(e) of the Companies Act, 1956, before the Hon'ble High Court of Delhi for winding up of ACPL HR Services Pvt. Ltd. The application was based on an outstanding amount of approximately Rs. 15 lakhs. The appellant had issued a statutory notice under Sections 433(e), 434(1)(A), and 439 of the Companies Act, 1956. The case was subsequently transferred to the NCLAT, and the appellant requested that the petition be treated as an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. A lawyer's notice was issued to the respondent (Corporate Debtor) requesting payment of Rs. 17,26,667/-. The Adjudicating Authority rejected the application.

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## Issues and analysis

### Issue 1: Whether the application preferred by the appellant under Section 433, 433 and 439 of the Companies …

**Ratio:** The application preferred by the appellant under Section 433, 433 and 439 of the

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**Reasoning:** The court reasoned that the application was defective due to the absence of a mandatory

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**Interpretation:** This issue concerns the maintainability of an application under the Companies

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** M/s. Lease Pal…
- **Respondents:** ACPL HR Services…
- **Advocates:** Sanchit…; Janmesh…

## Timeline

- **1956-01-01 — Application under…**: Appellant filed an application under Section 433(e) of the Companies Act, 1956, before…
- **2016-12-07 — Central Government…**: Central Government notification issued…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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