# In the matter of Altius Travels Pvt Ltd C.P. No. (IB)726-9-NCLT-AHM-2019

> NCLT judgment dated 2020-11-02. Citation: TCN-2020-NCLT-00311. The case involves an application filed by Shree Rani Sati Travel House, an operational…

- **Court:** NCLT
- **Order date:** 2 Nov 2020
- **Citation:** TCN-2020-NCLT-00311
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/altius-travels-pvt-ltd-cp-no-ib726-9-nclt-ahm-2019-5d412ef8

## Summary

### Background

The case involves an application filed by Shree Rani Sati Travel House, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Altius Travels Private Limited, the corporate debtor, for non-payment of operational debt. The operational creditor provided travel-related services to the corporate debtor based on placed orders, raised invoices, but the corporate debtor failed to pay the outstanding amount. Despite repeated reminders, the debt remained unpaid, leading to the filing of this petition.

## Facts

Shree Rani Sati Travel House, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Altius Travels Private Limited, a corporate debtor. The operational creditor provided travel-related services to the corporate debtor based on orders placed for managing group tours, arranging travel tickets, and booking. Invoices were raised for these services. The corporate debtor failed to pay Rs. 4,92,064/- along with accrued interest at 24% per annum up to April 30, 2019, resulting in a total operational debt of Rs. 7,31,298.94. Despite repeated reminders, the debt remained unpaid. The operational creditor issued a demand notice under Section 8 of the I&B Code on August 26, 2019, which was served upon the corporate

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## Issues and analysis

### Issue 1: Whether there is an "operational debt" as …

**Ratio:** Section 4 of the Insolvency and Bankruptcy Code, 2016 defines the threshold for

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**Reasoning:** The court considered the documentary evidence and found that the operational debt claimed

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**Interpretation:** Section 4 sets the minimum threshold for the amount of debt required to trigger

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**Application:** The court found that the operational debt of Rs. 7,31,298.94 exceeded the

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** Shree Rani Sati…
- **Respondents:** Altius Travels…

## Timeline

- **2009-10-29 — Company Regis…**: Altius Travels Private Limited…
- **2019-03-11 — Demand N…**: The operational creditor issued notice to the respondent under section 8 in form No. 3…

## 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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