# In the matter of Golden Shopping Mall & Hotels Private Limited CP-IB-162(CHE)-2022

> NCLT judgment dated 2022-12-23. Citation: TCN-2022-NCLT-00018. The case involves an application filed by Femina Shopping Mall Private Limited (Operational…

- **Court:** NCLT
- **Order date:** 23 Dec 2022
- **Citation:** TCN-2022-NCLT-00018
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/golden-shopping-mall-hotels-private-limited-cp-ib-162che-2022-ab3c0457

## Summary

### Background

The case involves an application filed by Femina Shopping Mall Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Golden Shopping Mall & Hotels Private Limited (Corporate Debtor). The Operational Creditor claims a total debt of Rs. 1,04,62,218/-, including principal and interest. The Corporate Debtor disputes the debt, particularly the interest component, and claims there is no agreement for interest. The application was filed on 17.06.2022.

## Facts

Femina Shopping Mall Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Golden Shopping Mall & Hotels Private Limited (Corporate Debtor). The Operational Creditor claimed a total debt of Rs. 1,04,62,218/-, comprising Rs. 55,07,846/- towards principal and Rs. 49,54,366/- towards interest. The Operational Creditor supplied grocery and other fast-moving items to the Corporate Debtor between April 2016 and August 2018. The date of default was stated as 01.08.2018. Prior to filing the application, the Operational Creditor issued multiple demand notices, including notices dated 18.03.2019, 30.03.2019, 27.02.2020, and finally, a demand

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## Issues and analysis

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

**Ratio:** An application under Section 9 of the IBC is maintainable only if the debt meets the

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**Reasoning:** The court considered the submissions and documents presented by both parties. It noted

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**Interpretation:** The court interpreted the provisions of Section 9 of the IBC, emphasizing the

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**Application:** The court applied the ratio to the facts of the case, finding that the

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## Parties

- **Judges:** DEEPTI M…; SAMEER…
- **Appellants:** Femina Shopping…
- **Respondents:** Golden Shopping…

## Timeline

- **2016-04-01 — Supply of…**: Operational Creditor started…
- **2018-08-01 — End of S…**: Operational Creditor stopped…

## 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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