# In the matter of Deccan Charters Pvt Limited C.P. (IB) No. 131-BB-2020

> NCLT judgment dated 2020-09-09. Citation: TCN-2020-NCLT-00670. The case involves a petition filed by Mr. Saikat Mukherjee, the Applicant/Operational Creditor,…

- **Court:** NCLT
- **Order date:** 9 Sept 2020
- **Citation:** TCN-2020-NCLT-00670
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/deccan-charters-pvt-limited-cp-ib-no-131-bb-2020-9004a9f7

## Summary

### Background

The case involves a petition filed by Mr. Saikat Mukherjee, the Applicant/Operational Creditor, under Section 9 of the IBC, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Deccan Charters Private Limited, the Respondent/Corporate Debtor, due to a default of Rs. 45,25,432/-. The case was listed for admission on multiple dates and adjourned for various reasons, including service of notice and settling the issue.

## Facts

Mr. Saikat Mukherjee, identified as the Applicant/Operational Creditor, initiated proceedings against Deccan Charters Private Limited, the Respondent/Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The claim was for a default amount of Rs. 45,25,432/- as of 30.08.2019. The case was listed for admission on several dates, including 12.06.2020, 29.06.2020, 15.07.2020, 07.08.2020, and 02.09.2020, and was adjourned to allow for service of notice and settlement discussions. Eventually, both parties reached a settlement, formalized in a Joint Memo of Reporting Settlement dated 08.08.2020. According to the settlement, Deccan Charters Private Limited agreed to pay Mr. Saikat Mukherjee a total of Rs. 8,67,307/- in two installments: Rs.

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## Issues and analysis

### Issue 1: Whether the Company Petition No. 131/BB/2020 should be admitted under Section 9 of the IBC, 2016 …

**Ratio:** Section 9 of the IBC, 2016 allows an operational creditor to initiate CIRP against a

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**Reasoning:** The court considered the application under Section 9 of the IBC, but before admission,

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

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**Application:** Since the parties settled before admission, the court did not proceed with the

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## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** Saikat Muk…
- **Respondents:** Deccan Charters…

## Timeline

- **2020-08-08 — Joint Memo of Reporting…**: The Applicant and Respondent entered into…
- **2020-09-09 — Order Da…**: The NCLT disposed of the Company Petition (IB) No. 131/BB/2020 as withdrawn, based on the…

## 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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