# In the matter of Big Vision Water Tech Private Limited CP (IB) No.2158/MB.IV/2019

> NCLT judgment dated 2020-09-23. Citation: TCN-2020-NCLT-00539. This is a Company Petition filed under section 9 of the Insolvency and Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 23 Sept 2020
- **Citation:** TCN-2020-NCLT-00539
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/big-vision-water-tech-private-limited-cp-ib-no2158mbiv2019-5ed9798b

## Summary

### Background

This is a Company Petition filed under section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Pankaj Modani (Operational Creditor) seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Big Vision Water Tech Private Limited (Corporate Debtor) due to alleged default in payment for professional services.

## Facts

Pankaj Modani, an operational creditor, filed a Company Petition under section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against Big Vision Water Tech Private Limited, the corporate debtor. The petition was filed on June 7, 2019, alleging that the corporate debtor failed to pay a principal sum of ₹1,29,000.00 and interest of ₹11,682.00, with the date of default stated as November 5, 2018. The total debt due and payable was ₹1,40,682.00. The operational creditor claimed to have raised invoices for professional compliance services provided in October 2018, granting a one-month credit period from the invoice date of October 5, 2018. A demand notice in Form 3 was served on the corporate debtor on

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## Issues and analysis

### Issue 1: Whether the operational creditor satisfied the pre-requisites under section 9 of the IBC for …

**Ratio:** A petition under section 9 of the IBC must satisfy all pre-requisites, including clear

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**Reasoning:** The NCLT found that there was no record of a contractual arrangement, no copy of the

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**Interpretation:** The court interpreted 'delivered' in section 9(5)(ii)(c) of the IBC and rule

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**Application:** In this case, the tracking receipt showing 'Item Dispatched' was deemed

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## Parties

- **Judges:** Rajasekha…; Ravikumar…; +1 more
- **Appellants:** Pankaj M…; Pankaj Modani…
- **Respondents:** Big Vision Water…; Big Vision Water…
- **Advocates:** Pallavi Mah…

## Timeline

- **September 12, 2013 — Incorporation of…**: Big Vision Water Tech Private Limited was…
- **October 5, 2018 — Invoice R…**: Operational Creditor raised invoices for professional compliance services for October…

## 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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