# In the matter of BPTP Limited (IB)-1316(ND)2019

> NCLT judgment dated 14 Nov 2022. Citation: TCN-2022-NCLT-00459. M/s. RBCL Projects Private Limited, the operational creditor, filed a petition under Section 9…

- **Court:** NCLT
- **Order date:** 14 Nov 2022
- **Citation:** TCN-2022-NCLT-00459
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bptp-limited-ib-1316nd2019-9bbf5322

## Summary

### Background

M/s. RBCL Projects Private Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. BPTP Limited, the corporate debtor. The operational creditor claimed an outstanding operational debt of Rs. 4,90,52,740/-, plus interest at 19.50% per annum, totaling Rs. 5,92,08,778.69/-. This debt arose from work orders for three projects: "Park Sentosa," "Discovery Park," and "Astaire Garden." The operational creditor had previously filed a Section 9 petition in 2018, which was withdrawn on January 24, 2019, after a partial settlement for the "Sentosa" project, with liberty to revive the petition in case of default.

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## Facts

M/s. RBCL Projects Private Limited, the applicant and operational creditor, is a registered MSME involved in infrastructure activities, specifically the completion or finishing of buildings under construction. The respondent, M/s. BPTP Limited, is a real estate company that allotted work to the applicant through various work orders. The present petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.

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## Issues and analysis

### Issue 1: Whether the demand notice issued by the operational creditor was in proper format and accompanied…

**Ratio:** A corporate debtor's claim that a demand notice is not in proper format or lacks…

**Reasoning:** The NCLT found that the corporate debtor's contention regarding the improper format of…

**Interpretation:** The court interpreted the requirement for a proper demand notice and…

**Application:** Given that the corporate debtor failed to provide any proof that it had served…

## Parties

- **Judges:** BACHU VENKAT…; L. N. G…
- **Advocates:** Sandeep…; Vipul…; +6 more

## Timeline

- **April 6, 2015 — First Work Ord…**: Work order issued to RBCL Projects Private Limited for construction of "Park Sentosa"…
- **September 13, 2016 — Second Work Ord…**: Work order issued for balance civil…

## 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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