# In the matter of Yatra Online Limited IA No. 1046-2022 in CP (IB) 180-2022

> NCLT judgment dated 2023-03-17. Citation: TCN-2023-NCLT-04175. Yatra Online Limited, the Corporate Debtor, filed an application (IA No. 1046/2022 in CP (IB)…

- **Court:** NCLT
- **Order date:** 17 Mar 2023
- **Citation:** TCN-2023-NCLT-04175
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/yatra-online-limited-ia-no-1046-2022-in-cp-ib-180-2022-05d20225

## Summary

### Background

Yatra Online Limited, the Corporate Debtor, filed an application (IA No. 1046/2022 in CP (IB) 180/2022) under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, seeking the dismissal of the Operational Creditor's (Ezeego One Travel and Tours Limited) application under Section 9 of the Code. The Corporate Debtor argued that the application was not maintainable due to being barred by Section 10A of the Code, which pertains to the suspension of insolvency proceedings during a specific period.

## Facts

Ezeego One Travel and Tours Limited, the Operational Creditor, initiated insolvency proceedings against Yatra Online Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor filed an application (IA No. 1046/2022) seeking dismissal of the Operational Creditor's application, arguing it was barred by Section 10A of the IBC, which suspends the initiation of CIRP for defaults occurring during a specified period. The Corporate Debtor claimed the date of default was 30.10.2020, falling within the suspension period. The Operational Creditor, represented by its Resolution Professional, argued that the default occurred prior to the suspension period and that the Corporate Debtor had acknowledged the debt. The Resolution

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## Issues and analysis

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

**Ratio:** Section 10A of the IBC suspends the initiation of corporate insolvency resolution process

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**Reasoning:** The NCLT considered the arguments of both parties regarding the applicability of Section

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**Interpretation:** Section 10A is interpreted as a bar to initiating CIRP for defaults occurring

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**Application:** The NCLT found that the actual date of default was in July 2019, which is

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Respondents:** YATRA ONLINE…; Ezeego One Travel…
- **Advocates:** Nausher…; Krishnendu…

## Timeline

- **2019-04-01 — Defaults Ac…**: Defaults started accruing…
- **2019-06-23 — Last Transact…**: Last date of transaction with…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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