# In the matter of A-One Realtors Private Limited

> NCLT judgment dated 2024-03-22. Citation: TCN-2024-NCLT-01956. The case involves an application filed by Energy Efficiency Services Limited (EESL), the…

- **Court:** NCLT
- **Order date:** 22 Mar 2024
- **Citation:** TCN-2024-NCLT-01956
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/a-one-realtors-private-limited-71399883

## Summary

### Background

The case involves an application filed by Energy Efficiency Services Limited (EESL), the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against A-One Realtors Private Limited, the Corporate Debtor. EESL claimed a default of Rs. 6,77,69,978/- exclusive of penal interest. The Corporate Debtor participated in a tender process and received Letters of Award for distributing LED bulbs. The Corporate Debtor was obligated to deposit the collected monies into EESL's account. EESL contends that the Corporate Debtor failed to make the required payments.

## Facts

Energy Efficiency Services Limited (EESL) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against A-One Realtors Private Limited, claiming a default of Rs. 6,77,69,978/- excluding penal interest. EESL, as the Operational Creditor, had awarded Letters of Award to A-One Realtors, the Corporate Debtor, for the distribution of LED bulbs in Uttar Pradesh, Madhya Pradesh, and Rajasthan. The Corporate Debtor was required to deposit the collected monies into EESL's account. EESL alleged that the Corporate Debtor failed to make the required payments. The Corporate Debtor contended that there were pre-existing disputes, necessitating reconciliation of accounts, and that the amount claimed

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## Issues and analysis

### Issue 1: Whether a pre-existing dispute exists between the Operational Creditor and the Corporate Debtor, …

**Ratio:** The existence of a pre-existing dispute between the parties, as defined under Section

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**Reasoning:** The Adjudicating Authority found that the Corporate Debtor had raised a plausible

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**Interpretation:** Section 5(6) of the IBC defines 'dispute' to include a dispute as to the

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**Application:** In this case, the Corporate Debtor presented evidence of communications

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## Parties

- **Judges:** BACHU VENKAT…; ATUL CHAT…
- **Appellants:** M/s. Energy…
- **Respondents:** M/s. A-ONE…

## Timeline

- **2018-01-05 — Demand Noti…**: Date of the Demand Notice issued by the…
- **2018-04-05 — Petition…**: Date of the petition filed by…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(6) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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