# In the matter of ASA Production and Entertainment Private Limited C.P. No. 1973-I&BP-2019

> NCLT judgment dated 2019-11-13. Citation: TCN-2019-NCLT-00626. Gopal Sound, through its Proprietor Mr. Balasundaran Silvaraj Mudhaliyar, filed a Company…

- **Court:** NCLT
- **Order date:** 13 Nov 2019
- **Citation:** TCN-2019-NCLT-00626
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/asa-production-and-entertainment-private-limited-cp-no-1973-ibp-2019-4c22a049

## Summary

### Background

Gopal Sound, through its Proprietor Mr. Balasundaran Silvaraj Mudhaliyar, filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against ASA Production & Entertainment Private Limited. The petitioner claimed that the corporate debtor defaulted on 25.07.2016. The petitioner provided pre-production/shooting/post production promotion services to the Corporate Debtor in respect of two films namely “1920 London" & "Creature 3D”.

## Facts

Gopal Sound, through its Proprietor Mr. Balasundaran Silvaraj Mudhaliyar, filed a petition against ASA Production & Entertainment Private Limited seeking to initiate CIRP. The petitioner and the corporate debtor entered into an agreement on 12.04.2013 & 10.07.2019, where the petitioner provided pre-production/shooting/post production promotion services to the Corporate Debtor for two films. The Corporate Debtor defaulted on 25.07.2016. The petitioner issued a demand notice on 23.04.2018 demanding repayment of Rs.3,74,000/-. The Corporate Debtor assured payment by January 2018 but failed to repay. The Corporate Debtor admitted the debt and default during the arguments.

## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor is in compliance with the provisions of …

**Ratio:** Section 8 & 9 of the Insolvency and Bankruptcy Code, 2016, outlines the procedure for

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**Reasoning:** The Bench was satisfied that the application filed by the Operational Creditor was in

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**Interpretation:** Section 8 and 9 of the IBC specify the requirements for an operational creditor

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**Application:** The court found that the petitioner had complied with the requirements of

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## Parties

- **Judges:** Bhaskara Pantula…; Shyam Babu…
- **Appellants:** Gopal S…
- **Respondents:** ASA Production &…

## Timeline

- **2016-07-25 — Default…**: Corporate Debtor…
- **2018-04-23 — Demand Notice…**: Petitioner issued Demand Notice in…

## 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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