# In the matter of Cambridge Energy Resource Pvt. Ltd. IA No.71-2021 and CP (IB) No.138-Chd-Hry-2019

> NCLT judgment dated 2021-03-26. Citation: TCN-2021-NCLT-02551. E2E Telelink India Pvt. Ltd. filed an application under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 26 Mar 2021
- **Citation:** TCN-2021-NCLT-02551
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/cambridge-energy-resource-pvt-ltd-ia-no71-2021-and-cp-ib-no138-chd-hry-2019-912966f5

## Summary

### Background

E2E Telelink India Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Cambridge Energy Resource Pvt. Ltd., alleging a default in payment of operational debt. The operational creditor claimed a total default amount of ₹22,16,395/-, including principal and interest. The corporate debtor acknowledged the debt but cited financial difficulties as the reason for non-payment. The operational creditor had issued a demand notice, which was received by the corporate debtor, but no payment was made. The applicant also sought substitution of the proposed Interim Resolution Professional (IRP) due to reluctance of the initially proposed IRP.

## Facts

E2E Telelink India Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Cambridge Energy Resource Pvt. Ltd. (Corporate Debtor) due to unpaid operational debt. The Operational Creditor provided building activities and services to the Corporate Debtor, raising invoices for the same. The Corporate Debtor confirmed an outstanding amount of ₹17,68,928/-. The total amount claimed to be in default was ₹22,16,395/-, including principal and interest. A demand notice dated 08.03.2019 was served upon the Corporate Debtor, who failed to comply. The Corporate Debtor admitted the debt but cited bad financial conditions. The Operational Creditor also sought

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## Issues and analysis

### Issue 1: Whether the demand notice in Form No.3/4 …

**Ratio:** The service of a demand notice is a mandatory requirement under Section 8 of the

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**Reasoning:** The court observed that the demand notice dated 08.03.2019 was sent by hand delivery, and

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**Interpretation:** The demand notice must be properly served to inform the corporate debtor of the

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**Application:** The court found that the demand notice was properly served as evidenced by the

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## Parties

- **Judges:** Ajay Kumar…; RAGHU N…; +1 more
- **Appellants:** E2E Telelink…
- **Respondents:** Cambridge Energy…

## Timeline

- **2019-01-15 — Reminder L…**: Operational Creditor sent reminder letters to Corporate Debtor for clearing outstanding…
- **2019-01-31 — Reminder L…**: Operational Creditor sent reminder letters to Corporate Debtor for clearing outstanding…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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