Smartpaddle Technology Private Limited Vs Atlanta Modular Private Limited (NCLT Guwahati)
Summary: NCLT Guwahati admitted the Section 9 application filed by Smartpaddle Technology Private Limited against Atlanta Modular Private Limited and ordered commencement of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed ₹17,16,07,038 as outstanding as on 31.07.2024, comprising principal of ₹15,66,85,391 and interest of ₹1,49,21,647, arising from supplies made pursuant to Supply Agreements dated 04.11.2022 and 27.03.2024. The Tribunal held that the claim arising from unpaid consideration for supply of products constituted “operational debt” under Section 5(21) of the Insolvency and Bankruptcy Code, 2016 and that Smartpaddle qualified as an Operational Creditor under Section 5(20).
The ledger, invoices, debit notes, correspondence and NeSL report reflected default from 26.09.2023. Significantly, an email dated 16.04.2024 from the Corporate Debtor acknowledged overdue amounts and proposed a payment plan. The Tribunal further found that the reply dated 07.02.2025 to the Section 8 demand notice did not dispute the existence or quantum of the unpaid operational debt and concluded that there was no pre-existing dispute. Finding the requirements of Section 9 satisfied, NCLT admitted CP(IB)/10/GB/2025, declared moratorium under Section 14 and appointed Sushanta Kumar Choudhury as Interim Resolution Professional. The Operational Creditor was directed to deposit ₹2 lakh with the IRP towards initial CIRP expenses.
