# In the matter of Tubelight Communications Ltd. CP(IB)-2659(MB)-2018

> NCLT judgment dated 2019-05-07. Citation: TCN-2019-NCLT-03429. The case involves a petition before the National Company Law Tribunal (NCLT), Mumbai Bench,…

- **Court:** NCLT
- **Order date:** 7 May 2019
- **Citation:** TCN-2019-NCLT-03429
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tubelight-communications-ltd-cpib-2659mb-2018-5a8d861b

## Summary

### Background

The case involves a petition before the National Company Law Tribunal (NCLT), Mumbai Bench, concerning M/s. Gupshup Technology India Pvt. Ltd. versus Tubelight Communications Ltd. The petition relates to Section 9 of the Insolvency & Bankruptcy Code, 2016. The petitioner presented Consent Terms, outlining a schedule of payments.

## Facts

M/s. Gupshup Technology India Pvt. Ltd. filed a petition against Tubelight Communications Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016. The petitioner presented Consent Terms outlining a payment schedule. The schedule includes multiple payments due on different dates, with varying amounts and settlement modes. The court noted that substantial payment was yet to be received and granted the petitioner the liberty to report any defaults. The petition was subsequently disposed of as withdrawn.

## Issues and analysis

### Issue 1: Whether the Consent Terms presented by the …

**Ratio:** When parties agree to Consent Terms, and these terms are presented to the court, the

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**Reasoning:** The court acknowledged the Consent Terms presented by the petitioner, indicating an

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**Interpretation:** The interpretation involves recognizing the validity and enforceability of

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**Application:** In this case, the Consent Terms were placed on record, formalizing the payment

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** M/s Gupshup…
- **Respondents:** Tubelight…

## Timeline

- **2019-05-07 — Order Da…**: Order sheet of the hearing of Mumbai Bench…
- **2019-04-16 — Payment Du…**: TCL 20190416/7492, Amount: 2,56,283/-,…

## 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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