# In the matter of NxtGen Datacenter and Cloud Technologies Private Limited C.P. (IB) No.120-BB-2018

> NCLT judgment dated 2019-07-29. Citation: TCN-2019-NCLT-02234. Dimension Data India Pvt. Ltd. filed C.P. (IB) No.120/BB/2018 under Section 9 of the IBC, 2016,…

- **Court:** NCLT
- **Order date:** 29 Jul 2019
- **Citation:** TCN-2019-NCLT-02234
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nxtgen-datacenter-and-cloud-technologies-private-limited-cp-ib-no120-bb-2018-60b8c008

## Summary

### Background

Dimension Data India Pvt. Ltd. filed C.P. (IB) No.120/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against NxtGen Datacenter and Cloud Technologies Private Limited, alleging a default of Rs.10,89,10,293/-, including a principal amount of Rs.9,60,58,611/- under an Asset Purchase Agreement and Rs.1,28,51,682/- as interest calculated at 12% p.a. until April 30, 2018. The case was listed for hearings on multiple dates.

## Facts

Dimension Data India Pvt. Ltd. filed a petition (C.P. (IB) No.120/BB/2018) under Section 9 of the IBC, 2016, against NxtGen Datacenter and Cloud Technologies Private Limited, claiming a default of Rs. 10,89,10,293/-. This amount included Rs. 9,60,58,611/- as the principal amount due under an Asset Purchase Agreement and Rs. 1,28,51,682/- as interest calculated until April 30, 2018. The case was listed for hearing on multiple dates. The petitioner then sought to withdraw the petition because a CIRP had already been initiated against the same corporate debtor in C.P. (IB) No. 153/BB/2017, and an IRP had been appointed. The petitioner wanted to file their claim with the IRP in the existing CIRP. The Tribunal allowed the withdrawal.

## Issues and analysis

### Issue 1: Whether the Operational Creditor should be allowed to withdraw the application seeking initiation …

**Ratio:** An operational creditor can withdraw their application if a CIRP has already been

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**Reasoning:** The Tribunal noted that a CIRP had already been initiated against the Corporate Debtor in

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**Interpretation:** This interprets the IBC to allow for efficient resolution by consolidating

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**Application:** Since a CIRP was already in progress, the Tribunal allowed Dimension Data to

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## Parties

- **Judges:** Rajeswara Rao…; Ashok Kumar…
- **Appellants:** Dimension Data…
- **Respondents:** NxtGen Datacenter…

## Timeline

- **2018-01-01 — Initiation of…**: Default occurred for a total…
- **2018-07-09 — First Heari…**: The case was listed for…

## 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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