# In the matter of DBS Affordable Home Strategy Limited C.P. No.(IB) 304-9-NCLT-AHM-2019

> NCLT judgment dated 2019-08-14. Citation: TCN-2019-NCLT-01954. The case involves an application filed by Agam Printers, an operational creditor, under Section…

- **Court:** NCLT
- **Order date:** 14 Aug 2019
- **Citation:** TCN-2019-NCLT-01954
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dbs-affordable-home-strategy-limited-cp-noib-304-9-nclt-ahm-2019-1bb74735

## Summary

### Background

The case involves an application filed by Agam Printers, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against DBS Affordable Home Strategy Limited, the corporate debtor. Agam Printers claimed an outstanding operational debt of Rs. 17,45,794/- for advertising and hoarding services provided to DBS Affordable Home Strategy Limited and Survandan Developers Private Limited (later merged with DBS). Despite repeated requests and a demand notice, the debt remained unpaid.

## Facts

Agam Printers, a proprietorship concern engaged in advertising and hoarding, provided services to DBS Affordable Home Strategy Limited since 2012, including services initially rendered to Survandan Developers Private Limited, which later merged with DBS. An operational debt of Rs. 17,45,794/- was claimed by Agam Printers for advertising and hoarding charges related to housing projects promoted by DBS Affordable Home Strategy Limited. Despite repeated requests and a demand notice dated 2019-02-28, the debt remained unpaid. DBS Affordable Home Strategy Limited acknowledged the debt but cited financial difficulties. The financial year starting from 2012-04-05 to 2019-01-10 showed acknowledgement of debt by the corporate debtor. The applicant submitted a copy of the demand

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## Issues and analysis

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

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

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**Reasoning:** The NCLT considered whether the claimed debt of Rs. 17,45,794/- met the threshold

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**Interpretation:** Section 4 establishes the minimum debt amount required for triggering the

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**Application:** The claimed debt of Rs. 17,45,794/- clearly exceeds the threshold of Rs. 1.00

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** Agam Pri…
- **Respondents:** DBS Affordable…; DBS Affordable…

## Timeline

- **2012-01-01 — Services Re…**: Agam Printers started rendering…
- **2019-02-28 — Demand Notice…**: The applicant issued a demand notice to the respondent calling upon the company to clear…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5 — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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