# In the matter of Dolphin Offshore Shipping Limited

> NCLT judgment dated 2023-07-06. Citation: TCN-2023-NCLT-02647. The case involves a petition filed by AHM Catering and Allied Services Private Limited…

- **Court:** NCLT
- **Order date:** 6 Jul 2023
- **Citation:** TCN-2023-NCLT-02647
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dolphin-offshore-shipping-limited-6ac4e027

## Summary

### Background

The case involves a petition filed by AHM Catering and Allied Services Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Dolphin Offshore Shipping Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor failed to pay a sum of Rs. 21,40,192.00 despite specific admission of liability. This amount was payable under a settlement agreement dated 03.12.2018, which was entered into between the parties towards settlement of outstanding dues for catering, laundry, and housekeeping services provided by the Operational Creditor to the Corporate Debtor. The Corporate Debtor had made a part payment of Rs. 10,00,000 on

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## Facts

AHM Catering and Allied Services Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dolphin Offshore Shipping Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed Rs. 21,40,192.00, which was payable under a settlement agreement dated 03.12.2018. This agreement was for outstanding dues related to catering, laundry, and housekeeping services provided by the Operational Creditor to the Corporate Debtor. The Corporate Debtor had made a part payment of Rs. 10,00,000 on 12.06.2018. An earlier company petition for Rs. 43,20,862 was withdrawn after the settlement agreement was reached. However, two

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor is in default of a debt …

**Ratio:** The existence of a debt and default are essential prerequisites for admitting a petition

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**Reasoning:** The court noted that the Corporate Debtor had acknowledged the debt via email dated

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**Interpretation:** The interpretation of 'debt' and 'default' under the IBC requires a clear

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**Application:** In this case, the court applied the ratio by examining the email

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## Parties

- **Judges:** KISHORE VEMULAPALL…; Shyam Babu…
- **Appellants:** AHM Catering and…
- **Respondents:** Dolphin Offshore…
- **Advocates:** Kirtanan…; Geeta Lun…

## Timeline

- **2015-11-29 — Agreement for…**: Operational Creditor and the Corporate Debtor entered into an agreement for provision of…
- **2015-11-28 — Addendum to A…**: Addendum entered into between the Operational Creditor and the Corporate Debtor for…

## 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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