# In the matter of Achariya Techno Solutions (India) Pvt. Ltd. TIBA-1-KOB-2019 (IBA No. 74-2019)

> NCLT judgment dated 2019-09-13. Citation: TCN-2019-NCLT-01470. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 13 Sept 2019
- **Citation:** TCN-2019-NCLT-01470
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/achariya-techno-solutions-india-pvt-ltd-tiba-1-kob-2019-iba-no-74-2019-44fa0d7b

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by V-Con Integrated Solutions Private Limited (Operational Creditor) against Achariya Techno Solutions (India) Pvt. Ltd. (Corporate Debtor) for initiating insolvency resolution process due to unpaid operational debt. The Corporate Debtor was incorporated on 06.08.2010 under the Companies Act, 1956. The Operational Creditor provides technical platform/connectivity for sending bulk SMS and other value-added services. They entered into a service agreement on 19.11.2016. The Corporate Debtor allegedly defaulted on payments amounting to Rs. 67,37,600/-.

## Facts

V-Con Integrated Solutions Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Achariya Techno Solutions (India) Pvt. Ltd. (Corporate Debtor) for unpaid operational debt. The Corporate Debtor was incorporated on 06.08.2010. The Operational Creditor provides bulk SMS services and entered into a service agreement with the Corporate Debtor on 19.11.2016. The Corporate Debtor defaulted on payments amounting to Rs. 67,37,600/-. The Operational Creditor issued a demand notice on 13.03.2018. The Corporate Debtor acknowledged the debt in emails but requested more time to repay. The Corporate Debtor claimed the services were substandard and cited financial crisis as reasons for non-payment. The

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## Issues and analysis

### Issue 1: Whether there is an 'operational …

**Ratio:** Section 4 of the Insolvency and Bankruptcy Code, 2016 defines operational debt and

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**Reasoning:** The Adjudicating Authority examined the application and found that the operational debt

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**Interpretation:** The term 'operational debt' is interpreted as a debt in respect of the

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**Application:** The claimed amount of Rs. 67,37,600/- clearly exceeds the threshold of Rs. 1

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## Parties

- **Judges:** Ashok Kumar…; Veera Brahma Rao…
- **Appellants:** V-Con Integrated…
- **Respondents:** Achariya Techno…
- **Advocates:** Yashuva…; Gowtham…

## Timeline

- **2010-08-06 — Incorporation of…**: Achariya Techno Solutions (India) Pvt. Ltd. was incorporated under the Companies Act,…
- **2016-11-19 — Service Agr…**: V-Con Integrated Solutions Private Limited and Achariya Techno Solutions (India) Pvt.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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