# In the matter of Mi Marathi Media Limited TCP No. 1688-IBC-NCLT-MAH-2018

> NCLT judgment dated 2019-01-07. Citation: TCN-2019-NCLT-05312. Broadcast Audience Research Council (BARC), an operational creditor, filed a petition under…

- **Court:** NCLT
- **Order date:** 7 Jan 2019
- **Citation:** TCN-2019-NCLT-05312
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/mi-marathi-media-limited-tcp-no-1688-ibc-nclt-mah-2018-a24fb4b1

## Summary

### Background

Broadcast Audience Research Council (BARC), an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Mi Marathi Media Limited, a corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the non-payment of operational dues amounting to ₹4,03,750/- along with interest at 18% per annum from 01.04.2016, arising from two invoices issued under an End User License Agreement. The corporate debtor failed to make the payments despite continuous follow-up and a demand notice served by the operational creditor.

## Facts

Broadcast Audience Research Council (BARC), the Operational Creditor, filed a petition against Mi Marathi Media Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to non-payment of operational dues. BARC provides data to advertisers and broadcasters. Mi Marathi Media Limited operates a news channel. An End User License Agreement was in place between the parties. The Corporate Debtor was obligated to pay ₹8,00,000/- or 0.6% of ₹10,00,00,000/-, whichever is higher, as the subscription value for the licensed data. The Operational Creditor issued two invoices totaling ₹4,03,750/- along with interest at 18% per annum from 01.04.2016. The Corporate Debtor made a partial payment of ₹1,73,750/-, leaving an outstanding amount. A

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted on its payment obligations to the Operational Creditor under …

**Ratio:** A 'Default' is defined under section 3 (12) of The Code. The Corporate Debtor's failure

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**Reasoning:** The Corporate Debtor did not pay the outstanding dues despite continuous follow-up and a

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**Interpretation:** The court interpreted the absence of any dispute raised by the Corporate Debtor

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**Application:** The Corporate Debtor's failure to pay ₹4,03,750/- along with interest, despite

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## Parties

- **Judges:** M.K. Sh…
- **Respondents:** Mi Marathi Media…

## Timeline

- **2015-11-01 — Breach and Termination…**: Operational Creditor sent reminder notices for breach and termination of End User License…
- **2015-11-27 — Termination…**: Operational Creditor issued a letter to the Corporate Debtor for termination of the End…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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