# In the matter of Business Broadcast News Private Limited

> NCLT judgment dated 2023-12-06. Citation: TCN-2023-NCLT-00403. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 6 Dec 2023
- **Citation:** TCN-2023-NCLT-00403
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/business-broadcast-news-private-limited-6bb25c9b

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s Hansa Vision India Private Limited (Operational Creditor) against Business Broadcast News Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an amount of Rs. 9,34,927/- which includes principal and interest, for services provided to the Corporate Debtor. The Corporate Debtor admitted to the liability but delayed payments due to internal cash flow concerns.

## Facts

M/s Hansa Vision India Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC against Business Broadcast News Private Limited (Corporate Debtor) for initiating CIRP. The claim was for Rs. 9,34,927/-, including principal (Rs. 7,90,000) and interest (Rs. 1,44,927), for services provided in FY 2018-19 for the IAA World Congress 2019 Event. The Operational Creditor raised a final invoice on 28th February 2019, and sent it to the Corporate Debtor on 2nd March 2019. The Corporate Debtor acknowledged the debt via email on 12th June 2019, citing internal cash flow issues as the reason for delayed payments. The Operational Creditor sent a demand letter on 6th September 2019, but the Corporate Debtor did not respond. The petition was initially

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted in …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) allows an operational

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**Reasoning:** The Corporate Debtor admitted its liability to the Operational Creditor in an email dated

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**Interpretation:** The admission of liability by the Corporate Debtor, coupled with the

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**Application:** The Corporate Debtor's admission of liability and failure to pay the

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## Parties

- **Judges:** Anu Jagmoha…; KISHORE VEMULAPALL…
- **Appellants:** M/s Hansa Vision…
- **Respondents:** Business Broadcast…

## Timeline

- **2019-02-28 — Final Invoice…**: The Operational Creditor raised the final invoice (Tax Inv. No. HE-MUM-1819-162) for the…
- **2019-03-02 — Invoice…**: The final invoice was sent to…

## 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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