# In the matter of Aditya Vidyut Appliance Ltd. C.P. No.(IB) 2802(MB)-2018

> NCLT judgment dated 2019-05-09. Citation: TCN-2019-NCLT-03362. The case pertains to C.P. (IB)-2802(MB)/2018 before the National Company Law Tribunal, Mumbai…

- **Court:** NCLT
- **Order date:** 9 May 2019
- **Citation:** TCN-2019-NCLT-03362
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aditya-vidyut-appliance-ltd-cp-noib-2802mb-2018-4b35b1fe

## Summary

### Background

The case pertains to C.P. (IB)-2802(MB)/2018 before the National Company Law Tribunal, Mumbai Bench. The matter involves Oswal Valves Pvt. Ltd. as the operational creditor and Aditya Vidyut Appliance Ltd. as the corporate debtor. The order sheet is from a hearing held on May 9, 2019.

## Facts

The case involves Oswal Valves Pvt. Ltd. as the operational creditor and Aditya Vidyut Appliance Ltd. as the corporate debtor. The case number is C.P. (IB)-2802(MB)/2018. During a hearing on May 9, 2019, the counsel for the corporate debtor handed over a cheque (No. 000001, dated May 12, 2019) for Rs. 4,87,434 to the counsel for the operational creditor. The case was listed for further hearing on June 19, 2019. The cheque handover suggests a potential settlement or partial payment of debt owed by the corporate debtor to the operational creditor.

## Issues and analysis

### Issue 1: Whether the handing over of a cheque by the corporate debtor's counsel to the operational …

**Ratio:** The handing over of a cheque can be considered a valid step in the insolvency resolution

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**Reasoning:** The court acknowledges the cheque handover as a procedural event. Listing the case for

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**Interpretation:** The action is interpreted as a potential step towards resolving the insolvency

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**Application:** In this specific case, the cheque handover is a factual event acknowledged by

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## Parties

- **Judges:** V. P. S…; RavikumarDu…
- **Appellants:** Oswal Valves Pvt.…
- **Respondents:** Aditya Vidyut…

## Timeline

- **2019-05-09 — Hearing…**: Hearing of Mumbai Bench of the…
- **2019-05-12 — Cheque D…**: Cheque No.000001 dated…

## 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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