# In the matter of Health Biotech Limited CP (IB) No. 313-Chd-Hry-2019

> NCLT judgment dated 2023-02-09. Citation: TCN-2023-NCLT-04678. Amatya Business Consulting Pvt. Ltd. filed a petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 9 Feb 2023
- **Citation:** TCN-2023-NCLT-04678
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/health-biotech-limited-cp-ib-no-313-chd-hry-2019-6584b2bd

## Summary

### Background

Amatya Business Consulting Pvt. Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Health Biotech Limited, claiming an outstanding amount of Rs. 27,14,000/-. The operational debt was allegedly due since 07.02.2019. The Corporate Debtor, Health Biotech Limited, argued that the claim was based on an invoice raised more than 15 months after the expiry of the agreement between the parties, and that there was a pre-existing dispute.

## Facts

Amatya Business Consulting Pvt. Ltd. (Operational Creditor) filed a petition against Health Biotech Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming an outstanding operational debt of Rs. 27,14,000/-. The debt allegedly became due on 07.02.2019. The Operational Creditor claimed that it had provided consulting services to the Corporate Debtor, and the outstanding amount was reflected in its books of accounts. A demand notice was issued on 03.04.2019, to which the Corporate Debtor replied on 10.04.2019, stating that the agreement between the parties was valid only for six months, from 06.06.2017 to 05.12.2017, and the Operational Creditor failed to perform its duties within that period. The Corporate Debtor also argued that

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## Issues and analysis

### Issue 1: Whether or not the present application discloses any details of the transaction on account on which …

**Ratio:** The application must disclose details of the transaction on account of which the

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**Reasoning:** The court found that no transaction has been provided by the applicant to show as to how

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**Interpretation:** The application must provide sufficient details to establish the basis of the

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**Application:** In this case, the application lacked details of the transaction, as the invoice

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** Amatya Business…
- **Respondents:** Health Biotech…

## Timeline

- **2017-06-06 — Agreement…**: Agreement entered into between Amatya Business Consulting Pvt. Ltd. and Health Biotech…
- **2017-12-05 — Agreement…**: Agreement between Amatya Business Consulting…

## 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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