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

> NCLT judgment dated 2020-02-26. Citation: TCN-2020-NCLT-01796. The case involves an application filed by Mr. Manish Soni, the Operational Creditor (OC), under…

- **Court:** NCLT
- **Order date:** 26 Feb 2020
- **Citation:** TCN-2020-NCLT-01796
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/concept-eduventures-pvt-ltd-cp-ib-no-03-gb-2020-b006b8e2

## Summary

### Background

The case involves 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 OC claimed that the CD defaulted on payments for services rendered as a Chemistry Faculty member. The CD remained ex-parte despite service of notice.

## Facts

Mr. Manish Soni, the Operational Creditor (OC), filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate 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 with identification No. U80301AS2010PTC010166, having a share capital of Rs.20.00 lacs and a paid-up share capital of Rs.8.00 lacs. The CD's registered office is located in Guwahati, Assam. The CD is engaged in the business of imparting education. Mr. Manish Soni was engaged as a Chemistry Faculty member in the CD's Institute unit at Guwahati, Assam, at a consolidated professional/retainer-ship fee of Rs.1,16,000/- per month, as per an

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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

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**Reasoning:** The Tribunal noted that the respondent/CD remained ex-parte despite service of notice,

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover outstanding

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**Application:** Given that the CD remained ex-parte and the OC's claim was uncontested, the

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## Parties

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

## Timeline

- **2010-09-03 — Incorporation of…**: Concept Eduventures Pvt. Ltd. was…
- **2018-03-01 — Agreement between OC…**: Agreement entered into between Mr. Manish Soni (OC) and Concept Eduventures Pvt. Ltd.…

## 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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