# In the matter of Skyline Construction and Housing Pvt . Ltd. C.P. (IB)No. 159-BB-2017

> NCLT judgment dated 2019-11-27. Citation: TCN-2019-NCLT-00424. Rajeev Shetty, an operational creditor, filed a petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 27 Nov 2019
- **Citation:** TCN-2019-NCLT-00424
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/skyline-construction-and-housing-pvt-ltd-cp-ibno-159-bb-2017-c51936a4

## Summary

### Background

Rajeev Shetty, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Skyline Construction & Housing Pvt. Ltd, the corporate debtor, due to an alleged default of Rs. 58,68,768/-. The corporate debtor contested the petition, claiming the petition was an abuse of process and that no debt was owed. The petitioner claimed unpaid dues related to his employment with the corporate debtor from 2008 to 2015, including LTA, bonus, and leave encashment.

## Facts

Rajeev Shetty, the petitioner, was employed by M/s. Skyline Construction & Housing Pvt. Ltd., the corporate debtor, from October 3, 2008, to June 10, 2015. Shetty claimed unpaid dues of Rs. 58,68,768/-, including LTA, bonus, and leave encashment. The corporate debtor was incorporated on July 14, 1980. The petitioner initially filed C.P.(IB)No.12/BB/2017, which was later withdrawn with liberty to file a fresh petition. The corporate debtor denied liability, claiming the petition was an abuse of process and that the company was solvent. The petitioner produced emails and a bank statement indicating the debt. The corporate debtor argued that the emails were not valid and that the petitioner's claims were imaginary and delayed. The corporate debtor also highlighted

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## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor is maintainable under Section 9 of the IBC, …

**Ratio:** Section 9 of the IBC, 2016 allows an operational creditor to initiate CIRP against a

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**Reasoning:** The NCLT considered the petitioner's evidence and the corporate debtor's objections. The

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** The NCLT found that the petitioner had established a debt and default, and the

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## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** Rajeev S…
- **Respondents:** M/s.Skyline…

## Timeline

- **1980-07-14 — Incorporation of…**: M/s. Skyline Construction &…
- **2008-10-03 — Appointment of…**: Rajeev Shetty was appointed as 'Associate Vice President-Projects' in the Corporate…

## 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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