# In the matter of Karsha Thoughts Technologies Private Limited CP-190-IB-2018

> NCLT judgment dated 2021-02-22. Citation: TCN-2021-NCLT-02969. Dimension Data India Private Limited, the Operational Creditor, filed an application under…

- **Court:** NCLT
- **Order date:** 22 Feb 2021
- **Citation:** TCN-2021-NCLT-02969
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/karsha-thoughts-technologies-private-limited-cp-190-ib-2018-6a947b6c

## Summary

### Background

Dimension Data India Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Karsha Thoughts Technologies Private Limited, the Corporate Debtor, for an operational debt of Rs. 21,27,148/-. The Corporate Debtor had previously proposed a payment schedule, including a DD of Rs. 3 lakhs, but failed to adhere to it. The Operational Creditor then filed MA/1188/2019 to restore the original CP/190/IB/2018.

## Facts

Dimension Data India Private Limited (Operational Creditor) filed CP/190/IB/2018 under Section 9 of IBC, 2016 against Karsha Thoughts Technologies Private Limited (Corporate Debtor) for an operational debt of Rs. 21,27,148/-. The application was initially filed on 06.02.2018. The Corporate Debtor had proposed a payment schedule and provided a DD of Rs. 3 lakhs on 20.08.2018, but defaulted on the remaining payments. Consequently, the Operational Creditor filed MA/1188/2019 on 01.10.2019 to revive the original petition. The Tribunal passed an order on 16.09.2020 reviving the petition. The Corporate Debtor did not make any representation during the hearing on 28.01.2021. The invoice was raised on 24.02.2014, and a cheque was issued by the Corporate Debtor on 11.11.2015.

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC, 2016 is maintainable given the default by the …

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

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**Reasoning:** The Corporate Debtor failed to adhere to the payment schedule proposed earlier, including

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**Interpretation:** The provision allows for the initiation of CIRP when a default in payment of an

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**Application:** The Corporate Debtor's failure to adhere to the payment schedule, despite an

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## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Appellants:** Dimension Data…
- **Respondents:** Karsha Thoughts…

## Timeline

- **2018-02-06 — Application…**: Dimension Data India Private Limited filed CP/190/IB/2018 against Karsha Thoughts…
- **2018-08-27 — Tribunal…**: Tribunal passed an order based on a memo filed by the Corporate Debtor, including a DD of…

## 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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