# In the matter of J.B.K. Developers Private Limited

> NCLT judgment dated 2024-02-14. Citation: TCN-2024-NCLT-02592. The application was filed by M/s. Lex Primus LLP, seeking the clearance of pending invoices and…

- **Court:** NCLT
- **Order date:** 14 Feb 2024
- **Citation:** TCN-2024-NCLT-02592
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jbk-developers-private-limited-e856e46e

## Summary

### Background

The application was filed by M/s. Lex Primus LLP, seeking the clearance of pending invoices and outstanding dues amounting to Rs. 95,79,500/- and a direction to Respondent No.1 to call a meeting of the Committee of Creditors (CoC) to pass a resolution for the replacement of the Applicant by Mr. Harish Taneja as the legal advisor of the Corporate Debtor, M/s. JBK Developers Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. JBK Developers Private Limited, and the Committee of Creditors (CoC) had confirmed the appointment of M/s. Lex Primus LLP as legal advisor with effect from 23.11.2020. The Applicant represented the RP before various forums. The CoC in its 7th meeting approved the resolution for the appointment of Mr. Pankaj

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## Facts

M/s. Lex Primus LLP filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016, seeking clearance of pending invoices and outstanding dues of Rs. 95,79,500 from M/s. JBK Developers Private Limited. Lex Primus LLP also sought a direction for the Committee of Creditors (CoC) to convene a meeting to replace them with Mr. Harish Taneja as the legal advisor for JBK Developers. The Corporate Insolvency Resolution Process (CIRP) had been initiated against JBK Developers Private Limited, and Lex Primus LLP was appointed as the legal advisor effective 23.11.2020. The CoC, in its 7th meeting on 25.04.2023, approved the replacement of Mr. Vineet Aggarwal with Mr. Pankaj Narang as the

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## Issues and analysis

### Issue 1: Whether the Respondent No.1 should be directed to clear all pending invoices and outstanding dues …

**Ratio:** The principle of ensuring payment for services rendered is a fundamental aspect of

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**Reasoning:** The court considered the submissions and directed the Applicant to place the claim with

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**Interpretation:** This issue involves the interpretation of contractual obligations and the

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**Application:** The ratio and reasoning are applied to the specific facts by directing the

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## Parties

- **Judges:** MANNI SANKARIAH…; RAHUL BHA…
- **Appellants:** M/s. LEX PRIMUS…
- **Respondents:** M/s. JBK Developer…

## Timeline

- **2020-08-17 — Initiation…**: Corporate Insolvency Resolution Process was initiated against M/s. JBK Developers Private…
- **2020-11-23 — Appointment of Legal…**: M/s. Lex Primus LLP was appointed as legal…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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