# In the matter of Mediaman Infotech Private Limited  CP (IB) 1817-MB-C-I-2019

> NCLT judgment dated 2022-11-18. Citation: TCN-2022-NCLT-00400. Raman Enterprises, the Operational Creditor, filed a Company Petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 18 Nov 2022
- **Citation:** TCN-2022-NCLT-00400
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mediaman-infotech-private-limited-cp-ib-1817-mb-c-i-2019-8abd569a

## Summary

### Background

Raman Enterprises, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Mediaman Infotech Private Limited, the Corporate Debtor. The petition arose from a transaction where Raman Enterprises purchased digital secure anti-virus from Mediaman Infotech and subsequently sold it back. Disputes arose regarding the payment and alleged pre-existing disputes.

## Facts

Raman Enterprises (Operational Creditor) filed a petition under Section 9 of the IBC to initiate CIRP against Mediaman Infotech Private Limited (Corporate Debtor). Raman Enterprises purchased 50,000 units of digital secure anti-virus from Mediaman Infotech in December 2016 for Rs. 50,00,000/-. Raman Enterprises paid this amount via cheque. Later, Raman Enterprises claimed it could not sell the anti-virus and, by mutual consent, sold it back to Mediaman Infotech on 26.05.2017 for the same amount (Rs. 50,00,000/-). Mediaman Infotech paid Rs. 10,00,000/- via RTGS in installments between 30.05.2017 and 06.06.2017. Mediaman Infotech also made part payments of Rs. 14,00,000/-. Raman Enterprises alleged that Mediaman Infotech issued cheques that were dishonored. After

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted in the payment of the outstanding debt to the Operational …

**Ratio:** The establishment of debt and default is a prerequisite for admitting a petition under

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**Reasoning:** The court observed that the Corporate Debtor had transferred amounts towards the debt

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**Interpretation:** The court interpreted the actions of the Corporate Debtor, such as making part

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**Application:** Based on the facts presented, the court found that the Corporate Debtor had

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## Parties

- **Judges:** P.N. Des…; Shyam Babu…
- **Appellants:** Raman Enter…
- **Respondents:** Mediaman Infotech…

## Timeline

- **2016-12-01 — Initial Pu…**: Raman Enterprises purchased 50,000 units of digital secure anti-virus from Mediaman…
- **2017-05-26 — Buy-Back Tran…**: Raman Enterprises sold the anti-virus back to…

## 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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