Unified Credit Solutions Private Limited Vs D S Home Construction Pvt. Ltd (NCLT Delhi)
NCLT Delhi held that non-payment of outstanding lease rent falls under the ambit of ‘Operational Debt’ as defined under section 5(21) of the Insolvency and Bankruptcy Code, 2016. Accordingly, application u/s. 9 for initiating CIRP admitted.
Facts- This is a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 by M/s Unified Credit Solutions Private Limited (‘Operational Creditor’) through Mr. Samir Sethi, duly authorized for initiation of Corporate Insolvency Resolution Process (‘CIRP’) against M/s DS Home Construction Private Limited (‘Corporate Debtor’).
Conclusion- Held that the Operational Creditor has justified the existence of an Operational Debt by annexing true copies of the invoices, copies of emails and statements along with a certificate u/s. 65B of the Indian Evidence Act, 1872. The said invoices sufficiently justify that the Operational Creditor i.e. the non-payment of outstanding lease rent since July 2022 along with TDS for rent paid for the months of April to June 2022 by the Corporate Debtor and that the amount exceeding Rs. 1,84,47,567.00 is due and payable by the Corporate Debtor to the Operational Creditor and the same has not been paid yet. Therefore, we are of the view that there is a debt due and payable and that there has been default on the part of the Corporate Debtor.
