# In the matter of Euphoria Technologies Private Limited CP (IB) No. 157-9-NCLT-AHM-2019

> NCLT judgment dated 2021-03-17. Citation: TCN-2021-NCLT-02670. The case involves an application filed by Centillion Solutions & Services Pvt Ltd (Operational…

- **Court:** NCLT
- **Order date:** 17 Mar 2021
- **Citation:** TCN-2021-NCLT-02670
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/euphoria-technologies-private-limited-cp-ib-no-157-9-nclt-ahm-2019-71dd170e

## Summary

### Background

The case involves an application filed by Centillion Solutions & Services Pvt Ltd (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Euphoria Technologies Private Limited (Corporate Debtor) due to a default amount of Rs. 53,28,346/- and interest. The corporate debtor had approached the operational creditor for the purchase of Kodak Scanners and support service, issuing a purchase order dated 14.03.2017. The operational creditor supplied the goods and raised four invoices on 09.03.2018. A settlement agreement was entered into, acknowledging an outstanding amount of Rs. 45,55,596/- plus GST and Rs. 2,92,762/- for tax-loss. The operational creditor sent a demand

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## Facts

Centillion Solutions & Services Pvt Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Euphoria Technologies Private Limited (Corporate Debtor). The default amount was Rs. 53,28,346/- plus interest. The Corporate Debtor approached the Operational Creditor for purchasing Kodak Scanners and support service, issuing a purchase order on 2017-03-14. The Operational Creditor supplied the goods and raised four invoices on 2018-03-09. A settlement agreement was entered into where the Corporate Debtor acknowledged an outstanding amount of Rs. 45,55,596/- plus GST and Rs. 2,92,762/- for tax-loss. The Operational Creditor sent a demand notice on

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor is valid under Section 9 of the …

**Ratio:** Section 9 of the IBC, 2016, allows an operational creditor to initiate CIRP against a

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**Reasoning:** The court reasoned that the operational creditor had demonstrated that a debt was due and

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**Interpretation:** Section 9 provides the mechanism for operational creditors to trigger the

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**Application:** The court applied Section 9 to the facts of the case, finding that the

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** Centillion…
- **Respondents:** Euphoria Technolog…

## Timeline

- **2017-03-14 — Purchase…**: Corporate Debtor issued purchase order No. ETPL/PO/16-17/084 for the purchase of Kodak…
- **2018-03-09 — Invoices…**: Operational Creditor raised four invoices: M/SUP/17-18/465A, SCN/17-18/1147A,…

## 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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