# In the matter of Appsdaily Solutions Private Limited C.P. No. 1557-IBC-NCLT-MB-MAH-2017

> NCLT judgment dated 2018-10-23. Citation: TCN-2018-NCLT-00519. The case involves an application filed by F1 Info Solutions & Services Pvt. Ltd (Operational…

- **Court:** NCLT
- **Order date:** 23 Oct 2018
- **Citation:** TCN-2018-NCLT-00519
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/appsdaily-solutions-private-limited-cp-no-1557-ibc-nclt-mb-mah-2017-72fdb09c

## Summary

### Background

The case involves an application filed by F1 Info Solutions & Services Pvt. Ltd (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Appsdaily Solutions Private Limited (Corporate Debtor) due to failure to pay outstanding dues. F1 Info Solutions provided services to Appsdaily Solutions, primarily involving the servicing and repairing of mobile handsets. A business arrangement was in place where F1 Info Solutions would service handsets covered by insurance policies sold by Appsdaily Solutions. Appsdaily Solutions made payments until March 2015, after which payments became irregular, leading to outstanding invoices and short payments.

## Facts

F1 Info Solutions & Services Pvt. Ltd. (Operational Creditor) filed an application to initiate Corporate Insolvency Resolution Process (CIRP) against Appsdaily Solutions Private Limited (Corporate Debtor) for failure to pay outstanding dues. F1 Info Solutions was incorporated under the Companies Act, 1956. Appsdaily Solutions is involved in manufacturing and marketing mobile phones and applications. The total debt claimed was ₹1,00,11,945/-, including unpaid invoices of ₹81,18,164 and short payments of ₹18,93,781, along with interest at 24% per annum. The debt fell due from April 2015. F1 Info Solutions provided services to Appsdaily Solutions, servicing multi-brand mobile handsets. In 2014, Appsdaily Solutions engaged F1 Info Solutions to service handsets covered

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Appsdaily Solutions Private Limited, defaulted in paying the …

**Ratio:** The legal principle is that if a corporate debtor fails to pay an operational debt that

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**Reasoning:** The court reasoned that the Operational Creditor presented sufficient evidence, including

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**Interpretation:** This issue involves interpreting the provisions of Section 9 of the IBC, which

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**Application:** The court applied the ratio to the facts by considering the evidence presented

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## Parties

- **Judges:** V. P. S…; Ravikumar…; +1 more
- **Appellants:** F1 Info Solutions…
- **Respondents:** Appsdaily…
- **Advocates:** Hara…; Vrinda…; +1 more

## Timeline

- **2015-04-01 — Debt Due…**: The date from which the debt fell due…
- **2017-05-23 — Demand Noti…**: Demand notice issued by the Operational…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/appsdaily-solutions-private-limited-cp-no-1557-ibc-nclt-mb-mah-2017-72fdb09c