# In the matter of Sai Estate Consultants Chembur Pvt. Ltd. C.P.(IB)-1393-MB-IV-2020

> NCLT judgment dated 2021-08-02. Citation: TCN-2021-NCLT-01527. The case involves a Company Petition filed by Global Advertisers (Operational Creditor) under…

- **Court:** NCLT
- **Order date:** 2 Aug 2021
- **Citation:** TCN-2021-NCLT-01527
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sai-estate-consultants-chembur-pvt-ltd-cpib-1393-mb-iv-2020-118163c2

## Summary

### Background

The case involves a Company Petition filed by Global Advertisers (Operational Creditor) under Section 8 & 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Sai Estate Consultants Chembur Pvt. Ltd. (Corporate Debtor). The Operational Creditor claims that the Corporate Debtor failed to make an outstanding payment of Rs.1,98,47,220/- along with interest. The Corporate Debtor is a real estate agent company, and the Operational Creditor provided hoarding advertisement services. Disputes arose regarding the amount due, the quality of services, and the need for reconciliation of accounts.

## Facts

Global Advertisers (Operational Creditor) filed a petition against Sai Estate Consultants Chembur Pvt. Ltd. (Corporate Debtor) for outstanding dues of Rs. 1,98,47,220/- plus interest. The Operational Creditor provided hoarding advertisement services to the Corporate Debtor. 30 invoices were raised from 2017-03-10 to 2019-06-29, totaling Rs. 4,74,55,683/-, with part payments of Rs. 2,72,02,520/- made and TDS of Rs. 3,96,540/- deducted. The Corporate Debtor issued 20 post-dated cheques of Rs. 5,00,000/- each, out of which 10 were honored, 2 were dishonored, and 8 were returned. The Corporate Debtor claimed payments were to be made on a 'payable when able' basis and requested reconciliation of accounts. The Operational Creditor issued a demand notice on 2020-06-12. The

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## Issues and analysis

### Issue 1: Whether a pre-existing dispute existed between the Operational Creditor and the Corporate Debtor …

**Ratio:** The existence of a 'pre-existing dispute' is a valid ground for rejecting an application

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**Reasoning:** The NCLT found that the Corporate Debtor's claim of a pre-existing dispute was not

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**Interpretation:** The term 'pre-existing dispute' is interpreted to mean a dispute that is raised

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**Application:** In this case, the NCLT determined that the Corporate Debtor's request for

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## Parties

- **Judges:** RAJESH S…; SUCHITRAKAN…
- **Appellants:** Global Adve…
- **Respondents:** Sai Estate…

## Timeline

- **2017-03-10 — First In…**: First invoice raised by…
- **2019-06-29 — Last Inv…**: Last invoice raised by…

## 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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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/sai-estate-consultants-chembur-pvt-ltd-cpib-1393-mb-iv-2020-118163c2