NCLT JUDGEMENT ON RULE, 6 OF THE INSOLVENCY AND BANKRUPTCY (APPLICATION TO ADJUDICATING AUTHORITY) RULES, 2016 AND SECTION 2(20), 3(11), 3(6), 5(20), 5(21), 7, 9 OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016
Netmeds Marketplace Limited Vs. Madhatters Voyage Private Limited, (2020) 06 NCLT CK 0045 NCLT dismissed the application filed by Petitioner/Operational Creditor under Section 9 of the IBC, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, praying therein to initiate CIRP against the Respondent/Corporate Debtor. While dismissing the application NCLT held that if we shall consider the terms and conditions of the courier service agreement along with the definitions, which we have referred in the aforementioned para, then we are of the considered view that on the basis of this courier service agreement, it is the respondent who renders their service and it was not the applicant who renders the service. Therefore, in view of Section 5(21) the amount which the applicant claim does not come under the definition of operational debt and since the amount claimed by the applicant does not come under the definition of operational debt. ...