# In the matter of Rubique Technologies India Private Limited CP (IB) No.4304/MB.II/2019

> NCLT judgment dated 2020-10-07. Citation: TCN-2020-NCLT-00434. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 7 Oct 2020
- **Citation:** TCN-2020-NCLT-00434
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rubique-technologies-india-private-limited-cp-ib-no4304mbii2019-f4fc152a

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Salil Shashank Kulkarni, an employee of Rubique Technologies India Private Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the company. The Operational Creditor claims that the Corporate Debtor failed to pay outstanding salary for the period from October 2018 to June 2019, despite acknowledging the debt and making a partial payment. The petition was filed on 28.11.2019.

## Facts

Salil Shashank Kulkarni, an employee of Rubique Technologies India Private Limited, filed a petition under Section 9 of the IBC to initiate CIRP against the company due to unpaid salary. Kulkarni was appointed as Assistant Vice President on 16.01.2015 and later held the position of Senior Vice President until his resignation was accepted on 25.06.2019. The company acknowledged the outstanding salary for the period from October 2018 to June 2019 but cited financial difficulties. The Corporate Debtor made a partial payment of ₹3,06,508/- towards the outstanding salary. The total debt due and payable to the Operational Creditor is ₹50,90,629.00, including principal and interest as of 01.11.2018. The Corporate Debtor acknowledged the debt in letters dated 01.07.2019,

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor is in default of a debt …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016 allows an operational creditor to

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**Reasoning:** The Corporate Debtor acknowledged the debt in multiple letters and made a partial

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**Interpretation:** The acknowledgment of debt and failure to make full payment, despite

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**Application:** The Corporate Debtor's letters and partial payment, coupled with their

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** SALIL SHASHANK…
- **Respondents:** Rubique Technologi…

## Timeline

- **2014-10-22 — Incorporation of…**: Rubique Technologies India Private Limited was…
- **2015-01-16 — Appointment of…**: Salil Shashank Kulkarni was appointed as…

## 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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