# In the matter of Annapurna Broadcasting Private Limited CP (IB) No. 86-9-AMR-2022

> NCLT judgment dated 2022-09-27. Citation: TCN-2022-NCLT-00930. The case involves a petition filed by Dheemahi Productions, the Operational Creditor (OC),…

- **Court:** NCLT
- **Order date:** 27 Sept 2022
- **Citation:** TCN-2022-NCLT-00930
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/annapurna-broadcasting-private-limited-cp-ib-no-86-9-amr-2022-625ace64

## Summary

### Background

The case involves a petition filed by Dheemahi Productions, the Operational Creditor (OC), against Annapurna Broadcasting Private Limited, the Corporate Debtor (CD), under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) due to the CD's failure to discharge a debt of Rs.1,15,00,000/-. The OC and CD entered into a Memorandum of Understanding (MoU) where the OC was to supply electronic and electrical equipment for the CD's TV channel, AP 24x7. The CD acknowledged the debt but failed to make payments despite requests.

## Facts

Dheemahi Productions (Operational Creditor) filed a petition against Annapurna Broadcasting Private Limited (Corporate Debtor) to initiate CIRP for a debt of Rs.1,15,00,000/-. The debt arose from a Memorandum of Understanding (MoU) where Dheemahi Productions supplied electronic and electrical equipment to Annapurna Broadcasting for their TV channel, AP 24x7. The equipment included items for live coverage, pre and post production, and digital content uploading. The CD acknowledged the debt in a reply to a demand notice but failed to make payments, citing delays in revenue generation and seeking more time. The CD proposed quarterly installments with a moratorium period. The OC supplied the material, which was acknowledged by the CD. The CD filed a counter, acknowledging

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## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016 allows an operational creditor to

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**Reasoning:** The Tribunal considered the evidence presented by the Operational Creditor, including the

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** In this case, the Operational Creditor demonstrated that a debt was due and

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## Parties

- **Judges:** TELAPROLU…
- **Appellants:** Dheemahi Productio…
- **Respondents:** Annapurna…

## Timeline

- **N/A — MoU between O…**: Memorandum of Understanding (MoU) entered into between Dheemahi Productions (OC) and…
- **2018-10-10 — Proposed First Tranche…**: The CD offered to pay the consideration in quarterly installments with a moratorium…

## 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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