# In the matter of Skyline Constructions and Housing Private Limited CP (IB) No. 208-BB-2018

> NCLT judgment dated 2019-04-23. Citation: TCN-2019-NCLT-03747. The case involves M/s. R K Swamy BBDO Private Limited, the Operational Creditor/Petitioner,…

- **Court:** NCLT
- **Order date:** 23 Apr 2019
- **Citation:** TCN-2019-NCLT-03747
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/skyline-constructions-and-housing-private-limited-cp-ib-no-208-bb-2018-424043f8

## Summary

### Background

The case involves M/s. R K Swamy BBDO Private Limited, the Operational Creditor/Petitioner, filing a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against M/s. Skyline Constructions and Housing Private Limited, the Corporate Debtor/Respondent. The petition sought to initiate Corporate Insolvency Resolution Process (CIRP) due to the Corporate Debtor's failure to pay an outstanding amount of Rs. 1,59,34,435/-.

## Facts

M/s. R K Swamy BBDO Private Limited, identified as the Operational Creditor/Petitioner, initiated proceedings against M/s. Skyline Constructions and Housing Private Limited, the Corporate Debtor/Respondent, under Section 9 of the Insolvency & Bankruptcy Code, 2016. The basis for the petition was the Corporate Debtor's alleged failure to pay an outstanding amount of Rs. 1,59,34,435/-, which included principal and interest. The case was listed before the NCLT, Bengaluru Bench, for admission on several dates, including 26.11.2018, 13.12.2018, 19.12.2018, 24.01.2019, 21.02.2019, 19.03.2019, 21.03.2019, 02.04.2019, and 22.04.2019. Critically, neither the Petitioner nor their counsel appeared on most of these scheduled dates. On the final hearing date, the case was

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## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor under Section 9 of the Insolvency & …

**Ratio:** A petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, can be admitted

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**Reasoning:** The court reasoned that the petitioner's absence on multiple hearing dates indicated a

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**Interpretation:** Section 9 of the IBC allows operational creditors to initiate CIRP against a

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**Application:** In this case, the petitioner's repeated absence led the court to believe that

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## Parties

- **Judges:** Ratakonda…; Ashok Kumar…; +1 more
- **Appellants:** M/s. R K Swamy…
- **Respondents:** M/s. Skyline…

## Timeline

- **2018-11-26 — Case Listed for…**: The case was listed before…
- **2018-12-13 — Case Listed for…**: The case was listed before…

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