The existence of a pre-existing dispute between the parties is a valid ground for the Adjudicating Authority to reject an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016.

IN THE NATIONAL COMPANY LAW TRIBUNAL

BENCH – V, NEW DELHI

C.P (IB)/38(ND)2023

An application under section 9 of the Insolvency and Bankruptcy Code, 2016 read with rule 6 of the Insolvency and Bankruptcy (Application to

Adjudicating Authority) Rules, 2016.

IN THE MATTER OF:

Vision Plus Global Services Private Limited,

Registered Office: C-60, First Floor,

Rajan Babu Road, Adarsh Nagar,

North West Delhi 110033 India. ...Petitioner/Operational Creditor

Versus

M/s Karvy Digikonnect Limited

Flat Nos. 502 & 503, 5th Floor, Arunachal

Building, 19, Barakhamba Road,

New Delhi – 110001.

...Respondent/Corporate Debtor

Order Delivered on: 27.05.2024

CORAM:

SHRI MAHENDRA KHANDELWAL, HON’BLE MEMBER (JUDICIAL)

DR. SANJEEV RANJAN HON’BLE MEMBER (TECHNICAL)

APPEARANCES:

For the Applicant : Mr. Deepak Kumar, PCS Mr. Kumar Aniket, Advs For the Respondent : Adv Vipul Kumar

ORDER

PER: MAHENDRA KHANDELWAL, HON’BLE MEMBER (JUDICIAL)

1. The instant application is filed by M/s. Vision Plus Global Services Private Limited, (hereinafter referred as ‘Applicant’/Petitioner/ ‘Operational Creditor’) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity ‘the CODE/IBC’) read with rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity ‘the Rules’) with a prayer to initiate Corporate Insolvency Resolution Process (“CIRP”) against M/s. Karvy Digikonnect Limited (hereinafter referred as ‘Respondent/Corporate Debtor’) for failing to make the payment amounting Rs 1,42,65,426/ (Rupees One Crore Forty-Two lakhs Sixty Five thousand Four hundred Twenty Six Only)).

2. The Respondent Company M/s Karvy Digikonnect Limited was incorporated under the provisions of the Companies Act, 1956 having its registered office situated at Flat Nos. 502 & 503, 5th Floor, Arunachal Building, 19, Barakhamba Road New Delhi 11000I. Since the registered office of the respondent corporate debtor is in New Delhi, this Tribunal having territorial jurisdiction over the NCT of Delhi is the Adjudicating Authority in relation to the prayer for initiation of Corporate Insolvency Resolution Process in respect of respondent corporate debtor under subsection (1) of Section 60 of the Code.

Averments of the Applicants:

3. Briefly stated the facts of the present case as averred by the applicant are that the Corporate Debtor is a Service provider providing support services such as e commerce, banking, telecom, e- governance and other allied sectors and on the other hand the Applicant is also a service provider proving “Back office support services”. On dated 02.08.2019 the parties entered into a Back Office Support Agreement dated 02.08.2019 (for brevity referred as “the Agreement”) wherein the objective of the agreement is to provide Services of professionally managed "Wireless Services call centers" by Operational Creditor to Corporate Debtor. Applicant submitted that the Agreement relied upon the Work Order given to Corporate Debtor by Bharat Sanchar Nigam Limited (“BSNL”) on

11.04.2019 (for brevity referred as “Work Order”).

4. Applicant further submitted that as per the Clause 3 of the Back-Office Support Services Agreement 02.08.2019, the role and responsibilities of the Applicant was clearly demarcated which included manpower supply, house-keeping services as well as security services. Further the Applicant submitted that the Corporate Debtor availed the Services provided by the Operational Creditor and raised the various Invoices dated between 26.07.2021 to 01.10.2022.

5. Applicant submitted that as per the 4.1 clause of the Agreement the Corporate Debtor was entitled pay to the Service Provider (i.e Applicant) consideration on a back to back basis within 72 (seventy-two) hours upon receipt of corresponding payment from BSNL and subject to receipt valid invoice on monthly basis from the Service Provider and acceptance of such invoice by the Company (herein the Applicant).

6. Applicant submitted that the Corporate Debtor regularly placed orders from the operat