# In the matter of Man Realty Ltd.

> NCLT judgment dated 2024-01-17. Citation: TCN-2024-NCLT-03017. CBRE South Asia Pvt. Ltd., the Operational Creditor/Applicant, filed a Company Petition under…

- **Court:** NCLT
- **Order date:** 17 Jan 2024
- **Citation:** TCN-2024-NCLT-03017
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/man-realty-ltd-a6f83cb3

## Summary

### Background

CBRE South Asia Pvt. Ltd., the Operational Creditor/Applicant, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Man Reality Ltd., the Corporate Debtor/Respondent. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for services provided under a work order. The Corporate Debtor contested the application, asserting the existence of a pre-existing dispute regarding the quality and performance of the services provided by the Operational Creditor.

## Facts

CBRE South Asia Pvt. Ltd. (Operational Creditor) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Man Reality Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). CBRE claimed unpaid operational debt of Rs. 56,11,436.15/- for services provided under a work order. Man Reality Ltd. was incorporated on 22.07.2010. CBRE provided real estate advisory, facility management, and project management consultancy services. Man Reality Ltd. undertook construction of "One park avenue-1" and "One park avenue-6", appointing CBRE as Project Management Consultant (PMC). CBRE and Man Reality Ltd. worked on the basis of Work Order No. WOJMRL/00246/17-18 DA dated 06.10.2017. CBRE raised invoices

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## Issues and analysis

### Issue 1: Whether a pre-existing dispute existed between the Operational Creditor and the Corporate Debtor …

**Ratio:** Section 9(5)(ii)(d) of the IBC states that the Adjudicating Authority shall reject the

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**Reasoning:** The court found that the Corporate Debtor had notified the Operational Creditor of

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**Interpretation:** The existence of a pre-existing dispute, properly communicated, bars the

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**Application:** In this case, the Corporate Debtor's emails to the Operational Creditor

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## Parties

- **Judges:** V. G. Bisht…; Prabhat…
- **Appellants:** CBRE South Asia…
- **Respondents:** Man Realit…

## Timeline

- **2010-07-22 — Incorporation of…**: Man Reality Ltd. was incorporated…
- **2017-10-06 — Work Order…**: Work Order No. WOJMRL/00246/17-18…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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