# In the matter of Millenium Education Foundation Company Petition No. (IB)-245(ND)-2022

> NCLT judgment dated 2023-07-04. Citation: TCN-2023-NCLT-05378. M/s. Educomp Infrastructure & School Management Limited filed an application under Section 9 of…

- **Court:** NCLT
- **Order date:** 4 Jul 2023
- **Citation:** TCN-2023-NCLT-05378
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/millenium-education-foundation-company-petition-no-ib-245nd-2022-63856a39

## Summary

### Background

M/s. Educomp Infrastructure & School Management Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Millenium Education Foundation, citing a default of Rs.3,44,39,925/-.

## Facts

M/s. Educomp Infrastructure & School Management Limited (Operational Creditor) filed an application under Section 9 of IBC, 2016 against M/s. Millenium Education Foundation (Corporate Debtor) for default in payment of Rs.3,44,39,925/-.

The Operational Creditor and Corporate Debtor entered into a Collaboration Agreement dated 20.10.2014, where the Operational Creditor sub-licensed its logo and brand to the Corporate Debtor in exchange for brand license fees.

The Operational Creditor raised five invoices between 14.11.2018 and 01.11.2021, totaling Rs.3,44,39,925/-.

The Corporate Debtor argued that the application was not maintainable because the Chairman of the Monitoring Committee lacked the authority to represent the Corporate Debtor.

…

## Issues and analysis

### Issue 1: Whether the application filed by the Chairman of the Monitoring Committee on behalf of the …

**Ratio:** The Chairman of the Monitoring Committee has the authority to represent the Corporate

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**Reasoning:** The Adjudicating Authority, Chandigarh, had previously approved a resolution plan for the

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**Interpretation:** The order dated 14.12.2020 wherein the resolution plan of the applicant is

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**Application:** The technical ground taken by the

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; BINOD KUMAR…
- **Appellants:** Educomp Infrastruc…
- **Respondents:** Millenium…
- **Other parties:** Hans Raj…

## Timeline

- **2014-10-20 — Collaboration…**: Operational Creditor and Corporate Debtor…
- **2018-11-14 — Invoice…**: Invoice dated 14.11.2018…

## 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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