# In the matter of Media Moments Insight Private Limited CP (IB) No. 406-BB-2019

> NCLT judgment dated 2022-01-05. Citation: TCN-2022-NCLT-04532. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 5 Jan 2022
- **Citation:** TCN-2022-NCLT-04532
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/media-moments-insight-private-limited-cp-ib-no-406-bb-2019-08fca28c

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Apex AIM Private Limited, the Operational Creditor, against Media Moments Insight Private Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that the Corporate Debtor defaulted on payments for advertising services rendered under an Agency Advertising Agreement. The application is supported by an affidavit from Mr. Gaurav Tandon, Director of the Operational Creditor, and a board resolution authorizing him to represent the company.

## Facts

Apex AIM Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Media Moments Insight Private Limited (Corporate Debtor) for defaulting on payments related to advertising services. The Operational Creditor and Corporate Debtor entered into an Agency Advertising Agreement on 30.10.2017. The Operational Creditor provided advertising services, including marketing consultancy, planning of special promotion activity, editorial publicity, and public relations. The Corporate Debtor approved and confirmed the services, and invoices with GST were raised. The Corporate Debtor committed default for a total outstanding amount of Rs. 1,29,34,250, including interest of Rs. 33,35,047 as of 31.03.2019. The

…

## Issues and analysis

### Issue 1: Whether the demand notice in Form 3 …

**Ratio:** A demand notice must be served to the registered address of the corporate debtor to be

…

**Reasoning:** The demand notice was sent to the registered address of the corporate debtor on

…

**Interpretation:** The legal interpretation requires that a demand notice is considered duly

…

**Application:** Since the demand notice was sent to the registered address of the corporate

…

## Parties

- **Judges:** Ajay Kumar…; Manoj Kumar…
- **Appellants:** APEX AIM PRIVATE…
- **Respondents:** MEDIA MOMENTS…

## Timeline

- **2017-10-01 — Default…**: The transaction involving the defaulted…
- **2018-08-01 — Demand Noti…**: Demand notice in Form 3 dated 01.08.2018 demanding the payment of an unpaid operational…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/media-moments-insight-private-limited-cp-ib-no-406-bb-2019-08fca28c