# In the matter of Vubites India Private Limited CP (IB) 2964-MB-2019

> NCLT judgment dated 2022-11-25. Citation: TCN-2022-NCLT-00345. The Operational Creditor filed a petition under section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 25 Nov 2022
- **Citation:** TCN-2022-NCLT-00345
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vubites-india-private-limited-cp-ib-2964-mb-2019-e0809499

## Summary

### Background

The Operational Creditor filed a petition under section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for alleged default in payment for intellectual property services.

## Facts

Ripple IP Services LLP, 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 Vubites India Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor failed to pay INR 48,51,753/-, which included a principal amount of INR 37,32,118/- and interest of INR 11,19,635.40/- at 18% p.a. The alleged date of default was April 29, 2017. The Operational Creditor stated that it provided various intellectual property (IP) services to the Corporate Debtor from June 12, 2014, to January 31, 2017, based on formal engagement terms agreed via email on November 1, 2012, and May 3, 2013. Despite rendering services and

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## Issues and analysis

### Issue 1: Whether the Operational Creditor has established a valid operational debt and default under section …

**Ratio:** A petition under section 9 of the IBC is not maintainable if there is a pre-existing

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**Reasoning:** The NCLT found that the Corporate Debtor's contention regarding multiple invoices for the

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**Interpretation:** The NCLT interpreted the standard for a pre-existing dispute as laid down in

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**Application:** Given the discrepancies in invoices, lack of acknowledgment, and the Corporate

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## Parties

- **Judges:** P.N. Des…; Shyam Babu…; +1 more
- **Appellants:** Ripple IP…; Ripple IP…
- **Respondents:** Vubites India…
- **Advocates:** Kanta…; Amaya M.…; +3 more

## Timeline

- **November 1, 2012 — Engagement Ter…**: Formal engagement terms were signed and…
- **May 3, 2013 — Engagement Terms Email…**: A copy of the email dated May 3, 2013, was annexed as Annexure – II-C to the Petition,…

## 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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