# In the matter of Gurusukh Vintrade Services Pvt. Ltd. CP (IB) No. 62-CTB-2019

> NCLT judgment dated 2019-11-14. Citation: TCN-2019-NCLT-00590. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 14 Nov 2019
- **Citation:** TCN-2019-NCLT-00590
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/gurusukh-vintrade-services-pvt-ltd-cp-ib-no-62-ctb-2019-f6da97e1

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Apeejay Surrendra Park Hotels Limited (Operational Creditor) against Gurusukh Vintrade Services Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for management and technical services provided under an agreement dated 26.09.2012. The transactions in question occurred between 01.07.2016 and 30.04.2019. The application was filed on 21.06.2019.

## Facts

Apeejay Surrendra Park Hotels Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Gurusukh Vintrade Services Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for management and technical services provided under a Management and Technical Services Agreement dated 26.09.2012. The transactions occurred between 01.07.2016 and 30.04.2019, and the application was filed on 21.06.2019. The Operational Creditor submitted invoices amounting to Rs. 1,45,99,236 as outstanding dues. The Corporate Debtor was the lessee of a plot of land measuring 30,000 sq. ft and had constructed a 72-room four-star hotel. The Operational Creditor had also sent a legal

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency and …

**Ratio:** The Insolvency and Bankruptcy Code, 2016, allows an operational creditor to initiate the

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**Reasoning:** The Adjudicating Authority considered the documents and submissions made by the

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**Interpretation:** Section 9 of the IBC is interpreted to mean that if an operational debt exists,

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**Application:** Based on the facts presented, the Operational Creditor demonstrated that a debt

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## Parties

- **Judges:** Sucharit…; Satya Ranjan…
- **Appellants:** Apeejay Surrendra…
- **Respondents:** Gurusukh Vintrade…

## Timeline

- **2012-09-26 — Management and…**: Corporate Debtor and Operational Creditor executed a Management and Technical Services…
- **2016-07-01 — Transaction Per…**: Start date of the transactions for which…

## 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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