# In the matter of AUGVER DIGITAL SOLUTIONS PRIVATE LIMITED

> NCLT judgment dated 2025-09-24. Citation: TCN-2025-NCLT-01435. Vreon Tech India Private Limited filed a petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 24 Sept 2025
- **Citation:** TCN-2025-NCLT-01435
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/augver-digital-solutions-private-limited-9660fbab

## Summary

### Background

Vreon Tech India Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Augver Digital Solutions Private Limited. The claim is based on a default of INR 4,58,94,838/-.

## Facts

Vreon Tech India Private Limited (Operational Creditor) filed a petition under Section 9 of IBC against Augver Digital Solutions Private Limited (Corporate Debtor) for default in payment.

The default amount claimed is INR 4,58,94,838/-.

The date of default is 10.07.2018.

The Operational Creditor and EON USA (holding company of Corporate Debtor) entered into an agreement for a joint venture.

The Operational Creditor transferred INR 2,28,00,000/- to the Corporate Debtor towards equity contribution, but no shares were allotted.

The Corporate Debtor misclassified the funds received as 'advances from customers'.

A demand notice was issued on 30.11.2023 under Section 8 of the IBC.

The respondent did not respond to the demand notice or raise any dispute.

…

## Issues and analysis

### Issue 1: Whether the debt is within …

**Ratio:** Entries in balance sheets of the respondent, even for a reduced sum, constitute

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**Reasoning:** The Hon'ble Supreme Court has affirmed that even without specifying the creditor's name

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**Interpretation:** Acknowledgment of liability in audited balance sheets extends the limitation

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**Application:** The initial limitation period for initiating the proceedings by petitioner got

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Vreon Tech India…; Vreon Tech India…
- **Respondents:** Augver Digital…
- **Other parties:** Ramamoorthi…
- **Advocates:** Hema Srin…; N.Umayapa…

## Timeline

- **2024-03-12 — Petition…**: The petition was filed on 12.03.2024 under section 9 of the Insolvency and Bankruptcy…
- **2018-07-10 — Date of D…**: The date of default is…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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