# In the matter of Vijay Suraksha Realty LLP C.P.(IB)-36(MB)-2022

> NCLT judgment dated 2022-12-23. Citation: TCN-2022-NCLT-00021. Mauli Enterprises, an operational creditor, filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 23 Dec 2022
- **Citation:** TCN-2022-NCLT-00021
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vijay-suraksha-realty-llp-cpib-36mb-2022-1bc0ec00

## Summary

### Background

Mauli Enterprises, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Vijay Suraksha Realty LLP, the corporate debtor, for defaulting on a principal amount of ₹1,63,60,780 along with interest of ₹79,48,165, aggregating to ₹2,43,08,945 as of 02.02.2018. The Corporate Debtor was carrying out business of Construction and was awarded the work of Holistic Meditation and Spiritual Center (HMSC) by Thane Municipal Corporation (TMC). Mauli Enterprises was providing all Civil Construction Services. The Corporate Debtor contacted Mauli Enterprises to construct the HMSC building. Disputes arose regarding payments, leading to the application for CIRP.

## Facts

Mauli Enterprises, a partnership firm, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Vijay Suraksha Realty LLP for defaulting on a payment of ₹2,43,08,945. Vijay Suraksha Realty LLP was awarded a contract by Thane Municipal Corporation (TMC) to construct a Holistic Meditation and Spiritual Center (HMSC). Mauli Enterprises was contracted to carry out the construction work. Several work orders were issued, and Mauli Enterprises carried out the construction work and submitted tax invoices. Vijay Suraksha Realty LLP made some payments but defaulted on the remaining amount. Vijay Suraksha Realty LLP terminated the construction contract, citing delays. Mauli Enterprises claimed that Vijay Suraksha Realty LLP failed

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## Issues and analysis

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

**Ratio:** The existence of a pre-existing dispute is a bar to the admission of an application under

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**Reasoning:** The court considered the fact that the Corporate Debtor had filed a civil suit (Special

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**Interpretation:** The court interpreted the term 'pre-existing dispute' to mean a dispute that

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**Application:** The court applied the ratio to the facts of the case and concluded that a

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## Parties

- **Judges:** P.N. Deshmukh…; Shyam Babu…
- **Appellants:** Mauli Enter…
- **Respondents:** Vijay Suraksha…

## Timeline

- **2017-07-01 — Mobilization advance…**: Mobilization advance invoice dated…
- **2017-07-15 — Payment throu…**: Payment through RTGS on…

## 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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