# In the matter of Aiyan Marketing Pvt Ltd CP-667-(IB)-2017

> NCLT judgment dated 2018-01-04. Citation: TCN-2018-NCLT-01963. The case involves an application filed by Handiman Services Ltd, the Operational Creditor,…

- **Court:** NCLT
- **Order date:** 4 Jan 2018
- **Citation:** TCN-2018-NCLT-01963
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aiyan-marketing-pvt-ltd-cp-667-ib-2017-45b3dc18

## Summary

### Background

The case involves an application filed by Handiman Services Ltd, the Operational Creditor, against Aiyan Marketing Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declare a moratorium, and appoint an Interim Resolution Professional (IRP). The application was filed due to the Corporate Debtor's alleged default in making payment for security services provided by the Operational Creditor.

## Facts

Handiman Services Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Aiyan Marketing Private Limited (Corporate Debtor) due to unpaid dues for security services. The Operational Creditor provided security services to the Corporate Debtor and maintained a running account. The Corporate Debtor acknowledged these services and the debt through an agreement dated 2016-09-01 and a letter dated 2016-09-05. The outstanding amount claimed was Rs. 1,75,698/- along with interest at 24% p.a. The Corporate Debtor was served a demand notice dated 2017-07-01 under Section 8 of the I&B Code, 2016, but did not reply. The Operational Creditor filed an affidavit stating that the Corporate Debtor had not raised any

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## Issues and analysis

### Issue 1: Whether the Operational Creditor has fulfilled the requirements under Section 9 of the Insolvency …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, outlines the requirements for an

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**Reasoning:** The court reasoned that the Operational Creditor had provided sufficient evidence to

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**Interpretation:** Section 9 is interpreted to mean that if the operational creditor provides

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**Application:** The court applied the ratio to the facts by noting the presence of an agreement

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## Parties

- **Judges:** Ch. Mohd Sharief…
- **Appellants:** Handiman Services…
- **Respondents:** AIYAN MARKETING…

## Timeline

- **2016-09-01 — Agreement…**: Agreement between Operational Creditor and Corporate Debtor acknowledging services and…
- **2016-09-05 — Letter D…**: Letter from Corporate Debtor…

## 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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