# In the matter of Uberlux Concepts LLP CP-IB-465-ND-2018

> NCLT judgment dated 2018-06-14. Citation: TCN-2018-NCLT-01269. Uberlux Concepts LLP, the Corporate Debtor (CD), filed an application to initiate the Corporate…

- **Court:** NCLT
- **Order date:** 14 Jun 2018
- **Citation:** TCN-2018-NCLT-01269
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/uberlux-concepts-llp-cp-ib-465-nd-2018-5c4b4a30

## Summary

### Background

Uberlux Concepts LLP, the Corporate Debtor (CD), filed an application to initiate the Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was filed in Form 6, as prescribed under Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The CD's registered office is located at Level-2, Elegance, Old Mathura Road, Jasola, New Delhi-110025, and it is a Limited Liability Partnership with identification No. AAD-3305 issued by RoC, Delhi. The designated partners are M/s Uberlux Private Limited LLP through its Director Ms. Tamanna Singh and M/s Akvamir Technology Pvt. Ltd. through its Director Miss Amita Dagar. The date of incorporation of the CD is stated as

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## Facts

Uberlux Concepts LLP, acting as the Corporate Debtor, sought to initiate CIRP under Section 10 of IBC, 2016. The application was submitted in Form 6, as per the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. Uberlux Concepts LLP's registered office is in New Delhi, and it is registered as a Limited Liability Partnership. The designated partners are M/s Uberlux Private Limited LLP and M/s Akvamir Technology Pvt. Ltd. The company's incorporation date is 6.2.2015, with an authorized and paid-up capital of Rs.1.00 lakh. Ms. Tamanna Singh was authorized to file the application. The application listed financial creditors, claiming a total default of Rs.3,64,12,150/- as of 30.9.2017, with the debt incurred since 23.5.2016. The Tribunal found

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Uberlux Concepts LLP, has established a default as required under …

**Ratio:** Section 10 of the IBC, 2016, requires that a Corporate Debtor must have committed a

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**Reasoning:** The Tribunal reasoned that the applicant failed to provide adequate evidence of default,

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**Interpretation:** Section 10 of IBC, 2016, is interpreted to mean that a concrete default must be

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**Application:** In this case, the applicant, Uberlux Concepts LLP, failed to provide the

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## Parties

- **Judges:** R. VARADH…; V.K. SUB…
- **Respondents:** Uberlux Concepts…

## Timeline

- **2015-02-06 — Incorporati…**: Date of incorporation of the…
- **2016-05-23 — Debt Inc…**: Financial/operational debt…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 3(7) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-3)

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