# In the matter of A-One Realtors Private Limited

> NCLT judgment dated 2024-03-22. Citation: TCN-2024-NCLT-01978. The case involves an application filed by M/s. Energy Efficiency Services Limited (EESL), the…

- **Court:** NCLT
- **Order date:** 22 Mar 2024
- **Citation:** TCN-2024-NCLT-01978
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/a-one-realtors-private-limited-74696f02

## Summary

### Background

The case involves an application filed by M/s. Energy Efficiency Services Limited (EESL), the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. A-One Realtors Private Limited, the Corporate Debtor. EESL claimed that the Corporate Debtor defaulted on payments amounting to Rs. 6,77,69,978/-, exclusive of penal interest. The debt arose from Letters of Award issued to the Corporate Debtor for distribution, storage, and inventory management of LED bulbs under the Domestic Efficient Lighting Program (DELP). The Corporate Debtor was required to deposit the monies collected from the distribution of LED bulbs into EESL's bank account. EESL contended that the Corporate

…

## Facts

M/s. Energy Efficiency Services Limited (EESL), an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. A-One Realtors Private Limited, a Corporate Debtor. EESL claimed a default of Rs. 6,77,69,978/- excluding interest. The debt arose from Letters of Award issued to the Corporate Debtor for distribution of LED bulbs under the Domestic Efficient Lighting Program (DELP). The Corporate Debtor was responsible for depositing collected funds into EESL's account. EESL alleged non-payment despite reminders. The Corporate Debtor argued that there was a pre-existing dispute, evidenced by ongoing arbitration and communications showing disagreements over the

…

## 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, even if reconciliation of accounts is required,

…

**Reasoning:** The Adjudicating Authority noted that the Corporate Debtor had initiated arbitration

…

**Interpretation:** The interpretation of Section 5(6) of the IBC includes disputes regarding the

…

**Application:** In this case, the ongoing arbitration and the exchange of communications

…

## Parties

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

## Timeline

- **2018-01-05 — Demand Noti…**: Operational Creditor issued a demand…
- **2018-04-05 — Petition…**: The Operational Creditor filed a…

## Legal provisions

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

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/a-one-realtors-private-limited-74696f02