# In the matter of Epitome Residency Private Limited C.P. 1366-IB-MB-2020

> Read the full IBC case summary for In the matter of Epitome Residency Private Limited C.P. 1366-IB-MB-2020. NCLT judgment dated 2023-06-12. Citation:…

- **Court:** NCLT
- **Order date:** 12 Jun 2023
- **Citation:** TCN-2023-NCLT-05457
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/epitome-residency-private-limited-cp-1366-ib-mb-2020-bbeda65c

## Summary

### Background

The Operational Creditor filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for an alleged default in payment of Rs. 1,34,46,109/-.

## Facts

Jones Lang LaSalle Building Operations Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Epitome Residency Private Limited, the Corporate Debtor. The petition alleged a default in payment of Rs. 1,34,46,109/- for services rendered. The Operational Creditor is a real estate management and consultancy firm.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor committed a…

**Ratio:** A default in payment, even after a settlement agreement and dishonoured cheques,…

**Reasoning:** The NCLT found that the Corporate Debtor had acknowledged its liability in the Settlement…

**Interpretation:** The court interpreted the dishonour of cheques issued under a settlement…

**Application:** The Corporate Debtor's failure to honour the post-dated cheques, despite the…

## Parties

- **Judges:** Kuldip Kumar…; ANURADHA SANJAY…
- **Advocates:** Shashwa…; Anmol Bar…

## Timeline

- **May 30, 2017 — Agreement E…**: An agreement was executed between the Operational Creditor and the Corporate Debtor for…
- **April 10, 2018 — Addendum to A…**: The agreement dated May 30, 2017,…

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