The National Company Law Tribunal (NCLT), New Delhi Bench, comprising of Dharminder Singh (Judicial Member) and Sumita Purkayastha (Technical Member), while adjudicating an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 ("IBC") in DHL Supply Chain Pvt. Ltd. v Eicher Motors Ltd., has directed DHL to convince the Bench on the maintainability of the application in terms of Section 10A of the IBC. The matter is next listed on 01.08.2022.
DHL Supply Chain Pvt. Ltd. ("Applicant") is an Indian division of Deutsche Post DHL group and is engaged in the business of logistic operations. Eicher Motors Ltd. ("Respondent") is the listed parent of Royal Enfield motorcycles, which is the world's oldest motorcycle brand. The Respondent is a multinational company with its operation in over 60 countries worldwide and its flagship product in India has been the 'Royal Enfield Bullet'.
During 2020-2021, the Respondent had availed logistic and warehousing services of the Applicant, however, the invoices remained unpaid. Consequently, the Applicant in the capacity of an Operational Creditor, had filed an application under Section 9 of the IBC before the NCLT Delhi Bench, seeking initiation of Corporate Insolvency Resolution Process ("CIRP") against the Respondent. The matter was listed for its first hearing on 08.04.2022 wherein the NCLT Bench had directed the Applicant to convince the Bench regarding maintainability of the application in terms of Section 10A of IBC, which bars initiation of CIRP for a default that had occurred between 25.03.2020 and 25.03.2021. The application is pending adjudication and the next date of hearing is 01.08.2022.
Case Title: DHL Supply Chain Pvt. Ltd. v Eicher Motors Ltd., IB 272/ND/2022.
Counsel for the Applicant: Adv. Amit Dayal