# In the matter of Flexi Infotech Pvt. Ltd. C.P. No. IB-1625(ND)-2019

> NCLT judgment dated 2020-03-16. Citation: TCN-2020-NCLT-01508. Ashmit Corporation Pvt. Ltd. filed an application under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 16 Mar 2020
- **Citation:** TCN-2020-NCLT-01508
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/flexi-infotech-pvt-ltd-cp-no-ib-1625nd-2019-7325a405

## Summary

### Background

Ashmit Corporation Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Flexi Infotech Pvt. Ltd. The application was based on the alleged default in clearing a debt of Rs. 1,92,647/- along with interest.

## Facts

Ashmit Corporation Pvt. Ltd. (the Applicant) provided campaigning services to Flexi Infotech Pvt. Ltd. (the Respondent). The Respondent defaulted on payments for these services, with the first occurrence of default on 2017-10-10. The outstanding debt amounted to Rs. 1,92,647/- along with interest. The Applicant sent a demand notice to the Respondent on 2019-04-13 for the unpaid operational debt. The Applicant then filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against the Respondent.

## Issues and analysis

### Issue 1: Whether the application filed by Ashmit Corporation Pvt. Ltd. under Section 9 of the Insolvency and …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, allows an operational creditor to

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**Reasoning:** The Applicant, being an operational creditor, provided campaigning services to the

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

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**Application:** The court found that the Applicant met the requirements under Section 9, as

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## Parties

- **Judges:** P.S.N. P…; V.K. SUB…
- **Appellants:** Ashmit Corporation…
- **Respondents:** Flexi Infotech…

## Timeline

- **2017-10-10 — First Occurrence of…**: Flexi Infotech Pvt. Ltd. defaulted on…
- **2019-04-13 — Demand Noti…**: Ashmit Corporation Pvt. Ltd. sent a demand notice to Flexi Infotech Pvt. Ltd. for the…

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