# In the matter of Genesis BCW Private Limited (IB)-669(ND)2021

> NCLT judgment dated 2022-07-12. Citation: TCN-2022-NCLT-01748. Mr. Rajesh Mandal, the proprietor of Invasion Films, filed a petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 12 Jul 2022
- **Citation:** TCN-2022-NCLT-01748
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/genesis-bcw-private-limited-ib-669nd2021-03361533

## Summary

### Background

Mr. Rajesh Mandal, the proprietor of Invasion Films, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process against Genesis BCW Private Limited. The Operational Creditor claimed that the Corporate Debtor had approached them for professional photography and videography services, which were provided between February and July 2019. Demand notices were issued on 28.06.2021 under Section 8 of the IBC, 2016. The Adjudicating Authority observed that the applicant's claim was below the minimum threshold of Rs. 1 crore and the date of default was unclear, leading to a direction for the Operational Creditor to demonstrate how the application met the pecuniary jurisdiction and was filed within

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## Facts

Mr. Rajesh Mandal, proprietor of Invasion Films, filed a petition against Genesis BCW Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim was based on unpaid professional photography and videography services provided to Genesis BCW between February and July 2019. Demand notices were issued on 28.06.2021. The total amount claimed was Rs. 33,75,813/-, including principal and interest at 24% per annum. The Adjudicating Authority noted that the claim was less than the Rs. 1 Crore threshold and the date of default was unclear. The application was filed on 23.09.2021. The Corporate Debtor's authorized share capital is Rs. 10,00,000/- and paid-up share capital is Rs. 1,70,000/-.

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, is …

**Ratio:** The threshold limit for initiating Corporate Insolvency Resolution Process under Section

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**Reasoning:** The court relied on the judgments of the High Court of Kerala in M/s. Tharakan Web

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**Interpretation:** Section 4 of the IBC, as amended, clearly stipulates that Part II of the IBC,

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**Application:** In this case, the total claim of the Applicant was less than Rs. 1 Crore, and

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## Parties

- **Judges:** SHRI. DHARMINDER…; Shri. L. N.…
- **Appellants:** Rajesh M…
- **Respondents:** Genesis BCW…
- **Advocates:** Gulshan Kr.…

## Timeline

- **2019-02-01 — Services Pr…**: Professional photography and videography services provided by Mr. Rajesh Mandal (Invasion…
- **2019-07-01 — Services Pr…**: Professional photography and videography services provided by Mr. Rajesh Mandal (Invasion…

## 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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