# In the matter of East Mond Infra and Trade Pvt. Ltd. CP (IB) No. 112-BB-2021

> NCLT judgment dated 2022-01-05. Citation: TCN-2022-NCLT-04537. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 5 Jan 2022
- **Citation:** TCN-2022-NCLT-04537
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/east-mond-infra-and-trade-pvt-ltd-cp-ib-no-112-bb-2021-0336cd2f

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s. NHDPL South Private Limited (Operational Creditor) seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. East Mond Infra And Trade Pvt.Ltd (Corporate Debtor). The operational creditor claimed that the corporate debtor defaulted on a payment of Rs. 150,39,14,084/-. The corporate debtor admitted to owing the money but cited financial difficulties as the reason for non-payment.

## Facts

M/s. NHDPL South Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. East Mond Infra And Trade Pvt.Ltd (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 150,39,14,084/-. The Corporate Debtor's name was changed multiple times, from Somerest Infra Projects Pvt.Ltd to East Mond Agri and Infra Pvt.Ltd, and finally to East Mond Infra and Trade Pvt.Ltd. A Memorandum of Understanding (MOU) was entered into between the parties on 28.03.2014, where the Corporate Debtor was to provide conveyance of land to the Operational Creditor. The Operational Creditor remitted Rs.

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## Issues and analysis

### Issue 1: Whether the demand notice in Form 3 …

**Ratio:** The demand notice was given in hand dated 15.10.2021 and it was duly acknowledged by the

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**Reasoning:** The court observed that the demand notice was given in hand and duly acknowledged by the

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

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**Application:** The court found that the demand notice was properly served because it was given

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## Parties

- **Judges:** Ajay Kumar…; Manoj Kumar…
- **Appellants:** M/s. NHDPL South…
- **Respondents:** M/s. East Mond…
- **Advocates:** Uday Sh…; K. Dushyantha…

## Timeline

- **2014-03-28 — MOU Exec…**: Memorandum of Understanding (MOU) entered into between the Operational Creditor and…
- **2019-05-01 — Termination…**: Operational Creditor issued a…

## 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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