Lepton Software Export And Research Pvt. Ltd Vs Blu-Smart Mobility Tech Pvt. Ltd (NCLT Ahmedabad)
NCLT Ahmedabad held that application under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Blu-Smart Mobility Tech Private Limited (Corporate Debtor) as operational debt and default in payment established.
Facts- This Petition is filed on 20.06.2025 by the Applicant- Lepton Software Export and Research Private Limited (Operational Creditor) against the Respondent- Blu-Smart Mobility Tech Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016 read with Rule 6 of the IB (AAA) Rules, 2016 for initiation of CIRP, appointment of IRP and declaration of moratorium for default in payment of operational debt of Rs.5,84,43,201.76/- including interest arising from supply of goods/services.
Conclusion- Held that the present Petition is complete in terms of Section 9 of the Code. The Operational Creditor is entitled to claim its dues, establishing the operational debt and default in payment of the Operational Debt beyond doubt. The outstanding Operational Debt is of more than rupees one crore which meets the threshold limit as per section 4 of the Code and is well within the limitation for filing the present Petition. Moreover, the aforesaid said default is not covered under the period exempted under Section 10A of IBC, 2016. Accordingly, the Petition filed under section 9 of the Insolvency and Bankruptcy Code for initiation of corporate insolvency resolution process against the Corporate Debtor deserves to be admitted.
