# 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-03368. 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-03368
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aditya-vidyut-appliance-ltd-cp-noib-2802mb-2018-d9034057

## 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. The order sheet is from a hearing 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 counsel for the corporate debtor handed over a cheque numbered 000001, dated May 12, 2019, for Rs. 4,87,434 to the counsel for the operational creditor. This action suggests an attempt to settle the debt. The case is listed for further hearing on June 19, 2019. The case is filed under Section 9 of the Insolvency and Bankruptcy Code, 2016.

## Issues and analysis

### Issue 1: Whether the handing over of the cheque by the Corporate Debtor's counsel to the Operational …

**Ratio:** The ratio is based on the principle that a payment made by a debtor to a creditor can

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**Reasoning:** The court acknowledges the handover of the cheque as a significant event. The reasoning

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**Interpretation:** The interpretation is that the handover of the cheque is a step towards

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**Application:** In this specific case, the handing over of the cheque is applied as a potential

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## Parties

- **Judges:** V. P. S…; RavikumarDu…
- **Respondents:** Aditya Vidyut…

## Timeline

- **2019-05-09 — Hearing…**: Order sheet of the hearing of Mumbai Bench…
- **2019-05-12 — Cheque D…**: Cheque No.000001 dated 12.5.2019 handed over…

## 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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