# In the matter of Monica Broadcasting Private Limited CP (IB) No. 47-9-HDB-2022

> Read the full IBC case summary for In the matter of Monica Broadcasting Private Limited CP (IB) No. 47-9-HDB-2022. NCLT judgment dated 2022-04-29. Citation:…

- **Court:** NCLT
- **Order date:** 29 Apr 2022
- **Citation:** TCN-2022-NCLT-04876
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/monica-broadcasting-private-limited-cp-ib-no-47-9-hdb-2022-0e7256ef

## Summary

### Background

The operational creditor filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, alleging that the corporate debtor defaulted on rental payments, seeking the initiation of the Corporate Insolvency Resolution Process (CIRP).

## Facts

The operational creditor, Mrs. D. Suneela Reddy, filed a petition against Monica Broadcasting Private Limited, the corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, read with Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The petition sought the admission of the corporate debtor into Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 1,78,96,315/-.

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## Issues and analysis

### Issue 1: Whether the corporate debtor committed a…

**Ratio:** A default is established when the corporate debtor fails to pay the operational debt…

**Reasoning:** The corporate debtor failed to pay outstanding rental dues despite repeated reminders,…

**Interpretation:** The court interpreted 'default' under the IBC to include the failure to pay a…

**Application:** The corporate debtor's failure to pay rent as per the lease agreement and…

## Parties

- **Judges:** Venkata Ramakrishn…; Veera Brahma Rao…
- **Advocates:** M.S.Srinivas…

## Timeline

- **May 29, 2013 — Lease Agr…**: Lease Agreement entered into between the operational creditor and the corporate debtor…
- **December 4, 2019 — Notice for…**: Operational creditor addressed a notice for payment of Rs. 90,00,000/- to the corporate…

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