NATIONAL COMPANY LAW TRIBUNAL
GUWAHATI BENCH
GUWAHATI
CP. (IB) No. 6/GB/2021
Coram: Hon’ble Shri H.V Subba Rao, Member (J) : Hearing through
Hon’ble Shri Prasanta Kumar Mohanty, Member (T) : Video Conferencing
ATTENDANCE-CUM-ORDER SHEET OF THE HEARING OF THE NATIONAL COMPANY
TRIBUNAL, GUWAHATI BENCH ON 09/09/2021
Name of the Company: 1. Centralised Business Solutions Pvt. Ltd and
2. Mr. Samarendra Bhattacharya …….. Applicants
V/S
Chandrali Builders and Developers Private Limited …… Corporate Debtor
Section : Under section 9 of the Insolvency and Bankruptcy Code, 2016.
S.No. NAME (CAPITAL LETTERS) DESIGNATION REPRESENTATION SIGNATURE
1. NONE Advocate Petitioner Present in video
2. NONE Advocate Respondent Conference
ORDER
The Applicant is represented through respective Learned Counsel (s).
The case is fixed for pronouncement of order.
The Order is pronounced in the open court, Through Video Conferencing vide separate sheet.
Sd/- Sd/-
(PRASANTA KUMAR MOHANTY) (HARI VENKATA SUBBA RAO)
MEMBER (T) & MEMBER (J) &
ADJUDICATING AUTHORITY ADJUDICATING AUTHORITY
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ORDER
[Per se: Prasanta Kumar Mohanty, Member (T)]
1. The present petition has been preferred by the Applicants/Operational Creditor,
Centralized Business Solutions Private Limited (Applicant 1) and Mr. Samarendra
Bhattacharya Proprietor/Authorized Signatory of Samriddhi Wealth Creation (Applicant
2) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (herein after referred
to as a “Code”) seeking for initiation of Corporate Insolvency Resolution Process
(“CIRP” in short) in respect of the Corporate Debtor Company, namely, M/s Chandrali
Builders and Developers Private Limited Private Limited.
2. The Petitioner/Operational Creditor namely Centralized Business Solutions Private
Ltd. (Applicant 1) is having its Registered Office at 1, Graham Road, Tollygunge,
Ground Floor, Kolkata- 700040 and Mr. Samendra Bhattacharya (Applicant 2) having his
registered address at 48/22A, South Sinthee Road, Kolkata 700050.
3. It is submitted that the Operational Creditor is involved in the main business of
Financial Consulting and Advisory as mentioned in the Memorandum and Articles of
Association of the Company which is annexure herewith as “ANNEXURE-III”.
4. The Respondent/ Corporate Debtor, namely Chandrali Builders and Developers
Private Limited, was incorporated on 2nd December, 2016 with CIN-
U45309AS2016PTC017670. The Registered Office of the Corporate Debtor is situated
at: Ukilpatty, Silchar-1, Cachar, Assam- 788001, India.
5. That an agreement has been entered into between M/s Centralized Business
Solutions Pvt. Ltd. and Mr. Samrendra Bhattacharya, Proprietor of Samriddhi Wealth
Creation in capacity of Associate Partner dated 1st day of January, 2019. This work has
been executed jointly based on this agreement and hence this joint application has
been moved. A copy of agreement is attached herein and marked as “Annexure- XI”.
6. It is submitted by the OC that it is pertinent to mention here that the Corporate
Debtor, having no major presence in the State of West Bengal had approached the
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Operational Creditor for Project Finance of Rs.5,00,00,000.00 (Rupees Five Crores only)
from their preferred institution, State Bank of India in favor of Chandrali Builders and
Developers Private Limited for their Madhyamgram Project, namely “Chandrali Arcade”
around 12th June, 2019. After detailed discussion with Corporate Debtor and on the
basis of verbal agreement with one of the key Director, Mr. Ranadhir Basu and on his
instruction a confirmation mail was sent on 19/06/2019 to Mr. Chandrajit Basu another
key Director along with Proforma Invoice before taking up the assignment.
7. It is submitted by the Petitioners that the Respondent/ Corporate Debtor is
indebted to the Petitioners for Rs.15,00,000 Plus GST (Rupees Fifteen Lakhs Plus GST
@ 18%) effective from 18.12.2019 relating to Professional Services rendered
towards obtaining Administrative Approval of bank finance for Project Finance
of Rs.5,00,00,000/- from their preferred institution, State Bank of India in favor of
Chandrali Builders and Developers Private Limited for their Madhyamgram Project,
namely “Chandrali Arcade” around 12th June, 2019.
8. That the Operational Creditor has consistently and diligently devoted time and
effort and has provided Professional Services towards obtaining Administrative
Approval of bank finance and thus payment of professional fees to the
Operational Creditor as agreed before is rightly justified.
9. Accordingly, the Operational Creditor sent demand notice dated 01.02.2020 u/s
of Insolvency and Bankruptcy Code, 2016, along with copies of the work order with a
request to pay the entire unpaid operational debt to the tune of Rs.15,00,000/- Plus
GST @ 18% (Rupees Fifteen Lakhs Plus GST @ 18%) effective from 18.12.2019 with
regard to Professional Services rendered towards obtaining Administrative
Approval of Bank Finance. The Corporate Debtor despite being served the demand
notice on 06.02.2020 has refused to accept the copy as sent to them and no dispute
was raised as per the provisions of Section 5 (6) of the Insolvency and Bankruptcy
Code, 2016. The copy of demand notice u/s 8 of Insolvency and Bankruptcy Code, 2016
dated 01.02.2020 served on 06.02.2020 is annexed herein and marked as “Annexure-
II”.
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10. It is submitted by the Petitioner that the said amount are still outstanding and
has remained unpaid till date. That as on date there is an outstanding amount of
Rs.15,00,000.00 (Rupees Fifteen Lakhs) plus GST @ 18% p.a. from 18.12.2019 which is
due and defaulted and payable by the Corporate Debtor (CD).
11. It is submitted by the Applicant/Operational Creditor that the
Corporate Debtor had refused to accept the documents as was being
delivered to them. The cause of action to file the instant application accrued on each
and every date when the Operational Creditor requested the Corporate Debtor to make
payment of the outstanding amount against Professional Services rendered towards
obtaining Administrative Approval of bank finance. The cause of action further
arose on 01.02.2020 when the Operational Creditor sent a demand notice to the
Corporate Debtor which the Corporate Debtor refused to accept.
12. The Petitioner also submitted that several reminders have been sent for the
outstanding payment which has been deliberately ignored by the Corporate Debtor and
till date the said payment is outstanding.
13. The matter was taken up on 23/02/2021, 24/03/2021, 04/05/2021 &
29/07/2021.
ORDER
14. Heard the learned Counsel for the Petitioner and perused the
documents submitted. It is found that there is no written agreement
between the parties for the said services.
During the proceedings, the Counsel for Petitioner was asked to clarify
about the reported service “Administrative Approval of Bank Finance” and
whether the Petitioners are CA/CS/Cost Accountants. The Counsel for the
Petitioner could not clarify about the said service “for obtaining
Administrative approval of Bank Finance”. He has also submitted that the
Petitioners are neither CA nor CS/ Cost Accountant.
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15. It is a fact that there is no such service named “obtaining
Administrative Approval of Bank Finance”. Loan Applicants used to submit
the loan Applications to the Banks/lenders and Banks/Lenders may or may
not sanction the loan depending upon the eligibility of the Loan
Applicant/guidelines/conditions stipulated by the said Financial
Institution/Bank. There is no one between the Applicant and the Lender/
Bank. No middle man job is permitted.
Hence, we are of the considered view that this application filed under
Section 9 of IBC needs to be rejected on the following grounds:
1. There is no such service named “Obtaining Administrative
Approval of Bank Finance” in existence and
2. That the Petitioners have filed the Petition on the basis of verbal
agreement only.
16. It is now clear that the Petitioners have made an attempt to misuse the
process of IBC Proceedings by filing the application under Sec 9 of IBC 2016
for the reported service which is not in existence.
17. Hence this Application filed is hereby rejected as not maintainable
under Section 9 of the IBC.
18. This Petition is rejected as not maintainable so as to no cost.
Sd/- Sd/-
(PRASANTA KUMAR MOHANTY) (HARI VENKATA SUBBA RAO)
MEMBER (T) & MEMBER (J) &
ADJUDICATING AUTHORITY ADJUDICATING AUTHORITY
//td/D-09.09.2021//
