# In the matter of Tamanna Hotels Private Limited CP (IB) No.1378-MB-IV-2020

> NCLT judgment dated 2023-03-03. Citation: TCN-2023-NCLT-04333. Ratnarup Projects Private Limited, the Operational Creditor/Applicant, filed an application…

- **Court:** NCLT
- **Order date:** 3 Mar 2023
- **Citation:** TCN-2023-NCLT-04333
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/tamanna-hotels-private-limited-cp-ib-no1378-mb-iv-2020-65b34439

## Summary

### Background

Ratnarup Projects Private Limited, the Operational Creditor/Applicant, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Tamanna Hotels Private Limited, the Corporate Debtor. The Operational Creditor claimed a total default of Rs.2,83,95,203/-. The Corporate Debtor contested the claim, citing deficiencies in the services provided by the Operational Creditor and raising disputes regarding the quality of work. The Corporate Debtor also claimed an outstanding debt from the Operational Creditor.

## Facts

Ratnarup Projects Private Limited (Operational Creditor) filed an application under Section 9 of the I&B Code, 2016, to initiate CIRP against Tamanna Hotels Private Limited (Corporate Debtor) due to a default of Rs. 2,83,95,203. The Operational Creditor was selected for the construction of Phase-I based on an item rate contract. Articles of Agreement were entered into between the parties for the construction of a hotel. The Corporate Debtor failed to adhere to payment deadlines, leading the Operational Creditor to stop work. The Corporate Debtor issued post-dated cheques, some of which were cleared, while others were returned unpaid with the remarks 'Stop Payment by the Drawer'. The Operational Creditor filed a complaint under Section 138 of the Negotiable

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency & …

**Ratio:** The adjudicating authority must determine if a plausible contention exists that requires

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**Reasoning:** The court found that there was a pre-existing dispute between the parties regarding the

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**Interpretation:** The legal principle emphasizes the need for a genuine dispute, not a frivolous

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**Application:** In this case, the court applied the ratio by examining the evidence presented

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Ratnarup Projects…
- **Respondents:** Tamanna Hotels…
- **Advocates:** Tarun A…; Omkar V. De…

## Timeline

- **2014-04-04 — Tender Do…**: Tender document issued by the…
- **2014-05-02 — Letter of Intent and…**: Letter of Intent and Interim Agreement…

## 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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