In the matter of Healthcare Associates Private Limited C.P. (Ib) No. 41-KB-2021
Case brief
What is this about?
The NCLAT rejected an application to initiate Corporate Insolvency Resolution Process against a corporate debtor. The tribunal found the applicant failed to prove the existence of debt or default as the cheques presented were issued at a time when the debt was not payable, and the alleged pre-existing dispute regarding employee poaching did not qualify as a genuine dispute under the statutory requ
What did the court decide?
The application under Section 9 of the Insolvency and Bankruptcy Code, 2016 is rejected. The applicant is at liberty to pursue other remedies.
IN THE NATIONAL COMPANY LAW TRIBUNAL
KOLKATA BENCH-I
KOLKATA
C.P. (IB) No. 41/KB/2021
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:
India Medtronic Private Limited, having its registered office at 1241, Solitaire Corporate Park, Building Number 12, 4th Floor, Andheri-Ghatkopar Link Road, Andheri(E), Mumbai-400093.
…. Operational Creditor
Versus
Healthcare Associates Private Limited [CIN : U33119WB2004PTC098408], having its registered office at 3rd Floor, 13 Elgin Road, Gaza Park, Sreepally, Bhowanipore, Kolkata-700020.
….. Corporate Debtor Date of pronouncement: 23/03/2023
Issues for consideration
3 issues framed by the court
Whether the alleged default and debt based on presented cheques and undertaking were established despite denials and admissions of coercion.
Whether claims of employee poaching and breach of reciprocal obligations constituted a genuine pre-existing dispute under the Insolvency and Bankruptcy Code.
Whether the Adjudicating Authority should reject the application for initiation of Corporate Insolvency Resolution Process due to failure to prove operational debt.
Parties & counsel
- applicant
India Medtronic Private Limited
- respondent
Healthcare Associates Private Limited
Coram
Rohit Kapoor
Case details
As recorded by the court registry
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