Tata Power EV Charging Solutions Limited Vs Cab-Eez Infra Tech Limited (NCLT Mumbai)
NCLT Mumbai held that application under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process (CIRP) against Cab-Eez Infra Tech Limited [Corporate Debtor] admitted as operational debt and default thereon established.
Facts- This application was filed on 28.03.2025 by Tata Power EV Charging Solutions Limited, the Operational Creditor (OC) u/s. 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Cab-Eez Infra Tech Limited, the Corporate Debtor (CD).
Conclusion- Held that the Applicant is an Operational Creditor within the meaning of the IBC, that there exists a legally enforceable operational debt, that the CD has committed default in payment of such debt despite a statutory Demand Notice, the amount of default is more than the threshold of Rs. 1 Crore, and that the alleged disputes raised are neither bona fide nor pre-existing but are illusory and afterthoughts. The Application is also filed within the limitation period. Accordingly, all statutory requirements under Section 9 of the IBC are fulfilled. Thus, this Application filed under Section 9 of IBC, 2016 by Tata Power EV Charging Solutions Limited, the OC, for initiating CIRP in respect of Cab-Eez Infra Tech Limited, the CD, is admitted.
