# In the matter of Vasan Dental Hospitals Private Limited CP(IB)-230(CHE)2021

> NCLT judgment dated 2022-02-03. Citation: TCN-2022-NCLT-04271. The case involves an application filed by Jamuna International, an operational creditor, under…

- **Court:** NCLT
- **Order date:** 3 Feb 2022
- **Citation:** TCN-2022-NCLT-04271
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vasan-dental-hospitals-private-limited-cpib-230che2021-5e2a306c

## Summary

### Background

The case involves an application filed by Jamuna International, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vasan Dental Hospitals Private Limited, the corporate debtor. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, declare a moratorium, and appoint an Interim Resolution Professional (IRP). The operational creditor claimed outstanding dues of Rs. 62,14,082/- from the corporate debtor, with the last default occurring on 28.03.2018. The operational creditor had issued a demand notice dated 22.03.2021 to the corporate debtor, but received no response or repayment.

## Facts

Jamuna International, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vasan Dental Hospitals Private Limited, a corporate debtor, seeking to initiate CIRP. The operational creditor claimed outstanding dues of Rs. 62,14,082/- from the corporate debtor, with the last default occurring on 28.03.2018. The operational creditor had issued invoices between April 2017 and March 2018 for materials delivered, but the corporate debtor defaulted in honouring the invoices. The operational creditor sent a demand notice dated 22.03.2021, but received no response. The application was filed on 15.09.2021. The key fact is the date of default (28.03.2018) and the date of application (15.09.2021) in relation to the

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC is maintainable given that the debt in default …

**Ratio:** The threshold limit for initiating CIRP under Section 9 of the IBC is determined by the

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**Reasoning:** The court relied on the notification S.O. 1205(E) dated 24.03.2021, which increased the

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**Interpretation:** Section 4 of the IBC allows the Central Government to specify the minimum

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**Application:** In this case, the application was filed on 15.09.2021, which is after the

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## Parties

- **Judges:** (Retd.) S.…; Anil Ku…
- **Appellants:** Jamuna Internation…
- **Respondents:** Vasan Dental…

## Timeline

- **2018-03-28 — Last Def…**: The last default by the Corporate…
- **2021-03-22 — Demand N…**: The Operational Creditor issued a…

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