# In the matter of Teemper Lifestyle Private Limited  C.P. No. 1257-I&BP-2019

> NCLT judgment dated 2019-10-11. Citation: TCN-2019-NCLT-01030. Rudra Inc. filed a Company Petition against Teemper Lifestyle Private Limited, seeking to…

- **Court:** NCLT
- **Order date:** 11 Oct 2019
- **Citation:** TCN-2019-NCLT-01030
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/teemper-lifestyle-private-limited-cp-no-1257-ibp-2019-0ea19075

## Summary

### Background

Rudra Inc. filed a Company Petition against Teemper Lifestyle Private Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Rudra Inc. claimed that Teemper Lifestyle Private Limited defaulted on a payment of Rs. 16,03,013/-. Rudra Inc. supplied cotton fabric to Teemper Lifestyle Private Limited from January 23, 2016, to June 30, 2016, for which invoices were raised amounting to Rs. 9,55,076/-. Rudra Inc. issued a demand notice on March 1, 2019, demanding the outstanding balance, including interest at 24% per annum. Teemper Lifestyle Private Limited did not repay the dues or reply to the notice.

## Facts

Rudra Inc. filed a petition against Teemper Lifestyle Private Limited under Sections 8 & 9 of the IBC, 2016, seeking to initiate CIRP due to a default in payment. Rudra Inc. supplied cotton fabric to Teemper Lifestyle Private Limited between January 23, 2016, and June 30, 2016, raising invoices for Rs. 9,55,076/-. The invoices stipulated an interest of 24% per annum for delayed payments. Teemper Lifestyle Private Limited acknowledged the debt of Rs. 9,55,076/- in an email dated February 27, 2019. A demand notice was issued on March 1, 2019, for Rs. 16,03,013/-, including interest. Teemper Lifestyle Private Limited claimed a pre-existing dispute regarding the quality and timely delivery of goods and cited economic policy changes (demonetization and GST) as reasons

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## Issues and analysis

### Issue 1: Whether there is a valid pre-existing dispute between Rudra Inc. and Teemper Lifestyle Private …

**Ratio:** The adjudicating authority must determine whether there is a plausible contention

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**Reasoning:** The court noted that Teemper Lifestyle Private Limited had not raised any objections or

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**Interpretation:** The legal principle emphasizes that a dispute must be genuine and supported by

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**Application:** In this case, Teemper Lifestyle Private Limited's claim of a pre-existing

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## Parties

- **Judges:** Bhaskara Pantula…; Shyam Babu…
- **Appellants:** Rudra…
- **Respondents:** Teemper Lifestyle…; Teemper Lifestyle…

## Timeline

- **2016-01-23 — Supply of Cotton Fabric…**: Rudra Inc. started supplying cotton fabric…
- **2016-06-30 — Supply of Cotton Fabric…**: Rudra Inc. completed the supply of cotton…

## 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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