# In the matter of Concept Eduventures Pvt. Ltd. CP (IB) No. 03-GB-2020

> NCLT judgment dated 2020-02-26. Citation: TCN-2020-NCLT-01804. The case pertains to an application filed by Mr. Manish Soni, the Operational Creditor (OC),…

- **Court:** NCLT
- **Order date:** 26 Feb 2020
- **Citation:** TCN-2020-NCLT-01804
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/concept-eduventures-pvt-ltd-cp-ib-no-03-gb-2020-6f8dac91

## Summary

### Background

The case pertains to an application filed by Mr. Manish Soni, the Operational Creditor (OC), under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) for initiating the Corporate Insolvency Resolution Process (CIRP) against Concept Eduventures Pvt. Ltd, the Corporate Debtor (CD). The CD is a registered Private Limited Company incorporated on 03.09.2010, engaged in imparting education. An agreement was entered into on 01.03.2018 between the OC and the CD, where the OC was engaged as a Member in Chemistry Faculty in CD Institute unit at Guwahati, Assam at a consolidated professional/retainer-ship fee of Rs.1,16,000/- per month. The CD failed to release the monthly retainer-ship fee regularly to the OC, and as on 01.03.2019, an amount of Rs.3,48,000.00 became

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## Facts

Concept Eduventures Pvt. Ltd. is a registered Private Limited Company incorporated on 03.09.2010, engaged in imparting education. Manish Soni, the Operational Creditor, entered into an agreement on 01.03.2018 with Concept Eduventures Pvt. Ltd., where he was engaged as a Member in Chemistry Faculty in CD Institute unit at Guwahati, Assam at a consolidated professional/retainer-ship fee of Rs.1,16,000/- per month. Concept Eduventures Pvt. Ltd. failed to pay the monthly retainer-ship fee regularly to Manish Soni, and as on 01.03.2019, an amount of Rs.3,48,000.00 became due for payment to Manish Soni. Manish Soni claimed the said amount to be in default as on 01.01.2019 and approached the Tribunal. Concept Eduventures Pvt. Ltd. remained ex-parte despite service of notice.

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency & …

**Ratio:** Section 9 of the Insolvency & Bankruptcy Code, 2016 allows an operational creditor to

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**Reasoning:** The respondent/CD remained ex-parte despite service of notice. Since the respondent/CD

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**Interpretation:** Section 9 provides the mechanism for operational creditors to trigger the

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**Application:** Given that the Corporate Debtor remained ex-parte and the Operational

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## Parties

- **Judges:** Hari Venkata…
- **Appellants:** Manish…
- **Respondents:** Concept Eduventure…

## Timeline

- **2010-09-03 — Incorporation of…**: Concept Eduventures Pvt. Ltd. is…
- **2018-03-01 — Agreement between OC…**: Manish Soni and Concept Eduventures Pvt. Ltd. enter into an agreement where Manish Soni…

## 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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