Saurabh Nanda vs Big Barter Private Limited
- CitationCompany Appeal (AT) (Insolvency) No. 137 of 2025
Ratio decidendi
The rule this decision rests on
The Adjudicating Authority's admission of a Section 9 application may be upheld where the corporate debtor's submission that it will discharge the debt by a post-dated cheque amounts to an acceptance of both the debt and the default, so that no ground for interference with the admission order arises.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: Saurabh Nanda, Suspended Director of Born Unicorn Tech Prise Pvt. Ltd. ...Appellant Versus Big Barter Pvt. Ltd. & Anr. ...Respondents
Present: For Appellant : Mr. Aditya Gauri, Mr. Amar Dave, Ms. Damini Srestha, Mr. Anant Jain, Advocates. For Respondents : Mr. Akash Chatterjee, Advocate for R-1. Mr. Dhananjaya Sud, Advocate for R-2.
ORDER
(Hybrid Mode)
07.03.2025: Heard learned counsel for the parties. This appeal has
been filed against order dated 10.01.2025 passed by the Adjudicating
Authority (National Company Law Tribunal), New Delhi Bench, Court IV by
which order Section 9 application filed by the Respondent herein has been
admitted. When the appeal was taken for consideration, learned counsel for
the Appellant submitted that the Appellant has handed over a cheque for the
amount for which Section 9 application was filed. On 31.01.2025 following
order was passed:
"O R D E R (Hybrid Mode)
31.01.2025: Learned counsel for the Appellant submits that Appellant has handed over a cheque for the amount for which Section 9 application was filed. Learned counsel for the Respondent submits that the said is a post-dated cheque dated 02.03.2025.
Cont'd.../ 2
Let this appeal be taken on 07.03.2025.
Till next date, IRP may collate the claims, however, shall not constitute the CoC."
2. Today, when the matter was taken, learned counsel for the Respondent
submits that post-dated cheque could not be encashed and Appellant sought
further time from the Respondent.
3. The Adjudicating Authority has admitted Section 9 application after
returning finding of debt and default, and the fact that Appellant made
submission that he will pay debt by post-dated cheque clearly accept the debt
and default. We, thus, do not find any ground to interfere with the impugned
order. However, we grant liberty to file application under 12A before the
Adjudicating Authority in event a settlement is entered between the parties.
Subject to above liberty, appeal is dismissed.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical) Archana/nn
Company Appeal (AT) (Insolvency) No.137 of 2025
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