# In the matter of Manishaas Infratecho Solutions Pvt. Ltd. vs. Bhonu Hulshi Real Estate Private Limited

> NCLAT judgment dated 2024-07-18. Citation: TCN-2024-NCLAT-00314. The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) by…

- **Court:** NCLAT
- **Order date:** 18 Jul 2024
- **Citation:** TCN-2024-NCLAT-00314
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/manishaas-infratecho-solutions-pvt-ltd-vs-bhonu-hulshi-real-estate-private-limit-5b956451

## Summary

### Background

The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the Appellant against the order dated 05.03.2024 along with corrigendum dated 11.03.2024 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata, Court-II) in CP (IB) 304/KB/2022. The Adjudicating Authority dismissed Section 9 Application filed by the Appellant, who is the Operational Creditor, and imposed a penalty of Rs. One Lakh only. The Operational Creditor, Manishaas Infratecho Solutions Pvt Ltd, claimed that the Corporate Debtor, Bhonu Hulshi Real Estate, owed them Rs.2.83 cr including interest for civil construction and miscellaneous work. The Appellant issued a Section 8 demand notice on 07.10.2022, which was served on 10.10.2022, and filed a Section

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## Facts

Manishaas Infratecho Solutions Pvt. Ltd (Operational Creditor/Appellant) claimed that Bhonu Hulshi Real Estate Private Limited (Corporate Debtor/Respondent) owed them Rs. 2.83 crore, including interest, for civil construction and maintenance work. The Operational Creditor issued a Section 8 demand notice on 07.10.2022 and filed a Section 9 application on 30.10.2022 after receiving no response. The Adjudicating Authority dismissed the Section 9 application and imposed a penalty of Rs. 1 lakh on the Operational Creditor. The Corporate Debtor contended that all payments had been made to the Operational Creditor and its vendors/laborers. The Adjudicating Authority found contradictions in the Operational Creditor's pleadings and noted that the ledger account maintained by

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## Issues and analysis

### Issue 1: Whether any operational debt qua the Corporate Debtor has been proven to have become due and …

**Ratio:** The Hon'ble Supreme Court in Mobilox Innovations (P) Ltd. v. Kirusa Software (P) Ltd.

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**Reasoning:** The Adjudicating Authority found that the Corporate Debtor had made detailed submissions

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**Interpretation:** The existence of an operational debt is a prerequisite for initiating CIRP

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**Application:** In this case, the NCLAT agreed with the Adjudicating Authority's finding that

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Manishaas…
- **Respondents:** Bhonu Hulshi Real…
- **Advocates:** A. Kumar Sh…; Namrata L…; +1 more

## Timeline

- **2022-10-07 — Section 8 Dema…**: Appellant issued Section 8…
- **2022-10-10 — Demand Notice…**: Section 8 demand notice served…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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