In the matter of Gyan Ganga Limited Cp (Ib) No. 388-KB-2019
Case brief
What is this about?
The Tribunal rejected an application under Section 9 of the IBC filed by Quadrum Solutions Private Limited against Gyan Ganga Limited. It held there was no proof of debt or default as the invoices were unsigned, unserved before the demand notice, and not authenticated.
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.
IN THE NATIONAL COMPANY LAW TRIBUNAL KOLKATA BENCH-II, SPECIAL BENCH KOLKATA
CP (IB) No. 388/KB/2019
An application under section 9 of the Insolvency and Bankruptcy Code, 2016 read with rule 6 of the Insolvency and Bankruptcy (Application to
Adjudicating Authority) Rules, 2016.
In the matter of:
Quadrum Solutions Private Limited
…Operational Creditor
Versus
Gyan Ganga Limited [CIN: U5396BR1994PLC005734]
…Corporate Debtor
Date of Hearing: 09/11/2022
Date of pronouncing the order: 09/01/2023
Issues for consideration
2 issues framed by the court
Whether the applicant has demonstrated a proved debt or default of the corporate debtor to initiate the Corporate Insolvency Resolution Process.
Whether unauthenticated invoices served after the default and unsupported by evidence constitute proof of acknowledgment of default under Section 9 of the IBC.
Parties & counsel
- applicant
Quadrum Solutions Private Limited
Coram
Balraj Joshi
Rohit Kapoor
Case details
As recorded by the court registry
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