# In the matter of Euphoria Technologies Private Limited C.P. No. (IB) 78-9-NCLT-AHM-2020

> NCLT judgment dated 2020-11-23. Citation: TCN-2020-NCLT-00227. The case involves an application filed by ManpowerGroup Services India Private Limited…

- **Court:** NCLT
- **Order date:** 23 Nov 2020
- **Citation:** TCN-2020-NCLT-00227
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/euphoria-technologies-private-limited-cp-no-ib-78-9-nclt-ahm-2020-6c008eba

## Summary

### Background

The case involves an application filed by ManpowerGroup Services India Private Limited (operational creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Euphoria Technologies Private Limited (corporate debtor). The operational creditor claimed that the corporate debtor defaulted on payments for contractual staffing and permanent recruitment services provided under two agreements. The corporate debtor allegedly failed to pay outstanding dues despite multiple invoices and a notarized undertaking acknowledging the debt.

## Facts

ManpowerGroup Services India Private Limited (operational creditor) provided contractual staffing and permanent recruitment services to Euphoria Technologies Private Limited (corporate debtor) under two agreements dated 29.09.2017 and 01.03.2017. The corporate debtor was obligated to pay for these services within forty-five and thirty days, respectively. The operational creditor raised invoices totaling Rs. 2,38,53,674/-, which were allegedly accepted by the corporate debtor. The corporate debtor remitted Rs. 1,18,92,305/-, leaving an unpaid debt of Rs. 1,49,45,837/-, including a principal amount of Rs. 1,19,59,123/- and interest at 12% per annum. The corporate debtor executed a notarized undertaking on 12.09.2018, acknowledging a liability of Rs. 1,13,02,538/- and

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## Issues and analysis

### Issue 1: Whether the demand notice issued under Section 8 of the Insolvency and Bankruptcy Code, 2016, was …

**Ratio:** A valid demand notice is a prerequisite for initiating CIRP under Section 9 of the IBC.

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**Reasoning:** The court found that the demand notice dated 07.10.2019 was signed and issued by an

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**Interpretation:** Section 8 of the IBC requires an operational creditor to deliver a demand

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**Application:** In this case, the demand notice was found to be invalid because it was not

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** ManpowerGroup…
- **Respondents:** Euphoria Technolog…

## Timeline

- **2017-03-01 — Permanent Employee…**: Date of the permanent employee supply service agreement between ManpowerGroup Services…
- **2017-09-29 — Contract Staffing…**: Date of the contract staffing services agreement between ManpowerGroup Services India…

## 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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