In the matter of Buddha Global Limited [(Ib) – 436(ND)-2021]
Case brief
What is this about?
The Tribunal admitted an application under Section 9 of the IBC filed by Viterra India against Budha Global for initiating CIRP. The Court found the debt of Rs. 3.67 crore to be an operational debt, denied the existence of a pre-existing dispute, declared a moratorium, and appointed an Interim Resolution Professional.
What did the court decide?
Application under Section 9 of IBC admitted; moratorium declared; Mr. Santanu Kumar Samanta appointed as IRP.
What the court decided
IN THE NATIONAL COMPANY LAW TRIBUNAL, NEW DELHI COURT III
Item No. 103
IB-436(ND)/2021
IN THE MATTER OF: M/s. Viterra India Private Limited …..OPERATIONAL CREDITOR Vs. M/s. Budha Global Private Limited …..CORPORATE DEBTOR
SECTION
U/s 9 of IBC, 2016 Order Pronounced on 12.09.2023
CORAM:
SHRI BACHU VENKAT BALARAM DAS, HON’BLE MEMBER (JUDICIAL)
SHRI ATUL CHATURVEDI, HON’BLE MEMBER (TECHNICAL)
PRESENT: For the Applicant : For the Respondent :
ORDER
Order pronounced in open court vide separate sheets. IB-436(ND)/2021 is admitted.
Issues for consideration
3 issues framed by the court
Whether the application for initiating Corporate Insolvency Resolution Process against the Corporate Debtor should be admitted under Section 9 of the IBC.
Whether the alleged debt constitutes an operational debt and if there exists any pre-existing dispute barring the application.
Whether moratorium shall be declared upon admission of the application.
Parties & counsel
- applicant
M/s. Viterra India Private Limited
- respondent
M/s. Budha Global Limited
Coram
Bachu Venkat Balaram Das
Case details
As recorded by the court registry
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