# 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-04196. Yatra Online Limited, the Corporate Debtor, filed an application (IA No. 1046/2022) under…

- **Court:** NCLT
- **Order date:** 17 Mar 2023
- **Citation:** TCN-2023-NCLT-04196
- **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-180-2022-154b8603

## Summary

### Background

Yatra Online Limited, the Corporate Debtor, filed an application (IA No. 1046/2022) 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

Yatra Online Limited (Corporate Debtor) filed an application to dismiss the Operational Creditor's (Ezeego One Travel and Tours Limited) application under Section 9 of the IBC, citing Section 10A. The Operational Creditor claimed a default of Rs. 3,15,47,313 with a default date of 30.10.2020. The Corporate Debtor argued this date fell within the period barred by Section 10A. The Corporate Debtor relied on Ramesh Kymal v. Siemens Ganesh Renewable Power Private Limited, emphasizing Section 10A's prohibitory nature. The Resolution Professional of the Operational Creditor argued the default occurred before the suspension period, presenting emails and ledger statements. An email dated 12.09.2019 showed the Corporate Debtor offering to transfer 7.5 Cr. to the Operational

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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 presented by both parties regarding the applicability

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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 default occurred in July 2019, when the agreement

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## Parties

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

## Timeline

- **2020-10-30 — Date of Default Claimed…**: The Operational Creditor initially…
- **2021-03-09 — Operational Creditor…**: The Operational Creditor was admitted…

## 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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