In the matter of Ayyanna It Park LLP C.P(Ib). No. 91-9-HYD-2022
Case brief
What is this about?
The NCLT rejected an application for initiating CIRP against Ayyanna IT Park LLP filed by M/s. Teemage Builders. Finding a pre-existing dispute regarding the scope, quality, and timeline of construction work existed before the demand notice, the Tribunal held the application un-maintainable under Section 9 of the IBC, 2016, following Mobilox. Relief: Rejected without costs.
What did the court decide?
Rejection of the Company Petition for initiation of CIRP.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
S.No.1
IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH – 1 ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON 16-03-2023 AT 10:30 AM
CP (IB) No.91/9/HDB/2022 u/s. 9 of IBC, 2016
IN THE MATTER OF:
M/s. Teemage Builders Pvt Ltd
…Operational Creditor
VS
Ayyanna IT Park LLP
…Corporate Debtor
C O R A M:-
DR. VENKATA RAMAKRISHNA BADARINATH NANDULA, HON’BLE MEMBER (JUDICIAL) SH. CHARAN SINGH, HON’BLE MEMBER (TECHNICAL)
O R D E R
Issues for consideration
3 issues framed by the court
Whether an operational debt exceeding one crore is due and payable by the corporate debtor?
Whether there is a pre-existing dispute between the parties prior to the receipt of the demand notice under Section 8 of the IBC?
Whether the adjudicating authority is required to examine the merits of the dispute at the admission stage?
Parties & counsel
- petitioner
M/s. Teemage Builders Pvt Ltd
- respondent
Ayyanna IT Park LLP
Coram
DR. VENKATA RAMAKRISHNA BADARINATH NANDULA
Case details
As recorded by the court registry
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