J U D G M E N T

[Per; V. P. Singh, Member (T)]

This Appeal emanates from the Order passed by the Adjudicating Authority/National Company Law Tribunal, Bengaluru Bench, Bengaluru in C.P. (IB) No.260/BB/2019, whereby the Adjudicating Authority has admitted the Application for initiation of Corporate Insolvency Resolution Process (7CIRP8) against the 7Corporate Debtor8, filed under Section 9 of the Insolvency and Bankruptcy Code (in short 7I&B Code8) on 24th October 2019, in the case of Neeraj Jain, Director of M/s Flipkart India Private Limited Vs. M/s Cloudwalker Streaming Technologies Pvt. Ltd. The parties are referred to by their original status in the Company Petition for the sake of convenience.

2. Brief facts of the case are as follows:

The Company Petition No. CP (IB) No. 260/BB/2019 is filed by M/s Cloudwalker Streaming Technologies Pvt. Ltd., under Section 9 of Insolvency & Bankruptcy Code, 2016 against the 7Corporate Debtor8 M/s Flipkart India Private Limited on the ground that it has committed default for an amount of Rs.26,95,00,000/- (Rupees twenty-six crore ninety-five lacs only).

3. The Operational Creditor M/s Cloudwalker Streaming Technologies Private Limited contends tha