# In the matter of Aventura Components Private Limited Company Petition No. (IB)- 2484(ND)-2019

> NCLT judgment dated 2021-03-12. Citation: TCN-2021-NCLT-02724. Adecco India Pvt. Ltd., the operational creditor, filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 12 Mar 2021
- **Citation:** TCN-2021-NCLT-02724
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aventura-components-private-limited-company-petition-no-ib-2484nd-2019-3024b45e

## Summary

### Background

Adecco India Pvt. Ltd., the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Aventura Components Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in making payments for human resources services provided as per an agreement dated 24.02.2015. The corporate debtor admitted to the outstanding debt but cited financial distress due to the Coronavirus pandemic as the reason for non-payment.

## Facts

Adecco India Pvt. Ltd. (Operational Creditor) provided human resources services to Aventura Components Private Limited (Corporate Debtor) under an agreement dated 24.02.2015, effective from 01.02.2015. The Corporate Debtor defaulted on payments for these services from 28.09.2018 to 29.03.2019, with an outstanding amount of Rs. 2,983,870.95, excluding interest. The Operational Creditor sent demand notices on 27.08.2019, seeking payment of Rs. 31,50,337.42. The Corporate Debtor acknowledged the debt in its reply dated 11.09.2019 but cited financial distress due to the Coronavirus pandemic as the reason for non-payment. The Operational Creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiation of CIRP. The Corporate Debtor

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by the …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, read with the Supreme Court's

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**Reasoning:** The NCLT reasoned that the corporate debtor admitted to the debt and default in its reply

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**Interpretation:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a

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**Application:** In this case, the NCLT found that the application was complete, the debt

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## Parties

- **Judges:** P.S.N. P…; V.K. SUB…
- **Appellants:** Adecco India Pvt.…
- **Respondents:** Aventura Component…

## Timeline

- **2015-02-24 — Agreement…**: Agreement between Adecco India Pvt. Ltd. and Aventura Components Private Limited for…
- **2018-09-28 — Default Sta…**: Start date of the period during which the Corporate Debtor defaulted on payments to the…

## 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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