# In the matter of Indus Towers Ltd. CP (IB) No. 399-9-HDB-2017

> NCLT judgment dated 2018-09-11. Citation: TCN-2018-NCLT-00782. G.U. Kameswara Rao, an operational creditor, filed a petition against Indus Towers Limited, the…

- **Court:** NCLT
- **Order date:** 11 Sept 2018
- **Citation:** TCN-2018-NCLT-00782
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/indus-towers-ltd-cp-ib-no-399-9-hdb-2017-b6129a69

## Summary

### Background

G.U. Kameswara Rao, an operational creditor, filed a petition against Indus Towers Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, alleging a default of Rs. 26,01,788/-. The operational creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP), a moratorium, and appointment of an Interim Resolution Professional. The corporate debtor raised preliminary objections regarding the maintainability of the application, primarily questioning the jurisdiction of the National Company Law Tribunal (NCLT), Hyderabad Bench.

## Facts

G.U. Kameswara Rao, the operational creditor, filed a petition against Indus Towers Limited, the corporate debtor, under Section 9 of the IBC, claiming a default of Rs. 26,01,788/-. A lease deed dated 06.03.2014 was executed between the parties, where Indus Towers Limited leased terrace rights from G.U. Kameswara Rao for installing a telecom tower. Indus Towers Limited paid a security deposit of Rs. 1.1 Lakhs and agreed to a monthly rental of Rs. 27,500/-. The operational creditor claimed that Indus Towers Limited defaulted on rental payments after initially paying Rs. 67,500/-. The corporate debtor argued that the NCLT Hyderabad lacked jurisdiction because its registered office had shifted from New Delhi to Gurgaon, Haryana. The operational creditor had provided

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## Issues and analysis

### Issue 1: Whether the National Company Law Tribunal (NCLT), Hyderabad Bench, has the territorial jurisdiction …

**Ratio:** Section 60(1) of the Insolvency and Bankruptcy Code (IBC) stipulates that the

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**Reasoning:** The court reasoned that the location of the registered office of the corporate debtor is

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**Interpretation:** Section 60(1) of the IBC is interpreted strictly to mean that the NCLT with

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**Application:** In this case, the court found that the corporate debtor's registered office was

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## Parties

- **Judges:** Ratakonda…
- **Appellants:** G.U. Kamesw…
- **Respondents:** Indus Towe…
- **Advocates:** R.Sushanth…; M.Srinivas…

## Timeline

- **2014-03-06 — Lease Deed Ex…**: A lease deed was executed between G.U. Kameswara Rao and Indus Towers Limited for leasing…
- **2018-04-05 — Notice in…**: Operational creditor issued a notice…

## 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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