# In the matter of Noesis Industries Ltd. CA No. IB-201-PB-2018

> NCLT judgment dated 2018-09-28. Citation: TCN-2018-NCLT-00691. Vinod Kumar, an operational creditor, filed an application under Section 9 of the Insolvency…

- **Court:** NCLT
- **Order date:** 28 Sept 2018
- **Citation:** TCN-2018-NCLT-00691
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/noesis-industries-ltd-ca-no-ib-201-pb-2018-654d4dc0

## Summary

### Background

Vinod Kumar, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Noesis Industries Limited, the corporate debtor. The applicant, an advocate and retired professional, provided consulting services to the corporate debtor based on a Retainership Agreement dated 28.01.2017. The applicant raised invoices for these services from 07.03.2017 onwards and requested payment via a notice dated 17.07.2017. The corporate debtor replied on 25.08.2017, assuring payment. However, a final notice dated 27.10.2017 requesting payment was not responded to, leading the applicant to stop services. The applicant issued a demand notice under Section 8 of the IBC,

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## Facts

Vinod Kumar, an advocate and retired professional, provided consulting services to M/s Noesis Industries Limited based on a Retainership Agreement dated 28.01.2017. He raised invoices from 07.03.2017 onwards, seeking payment for his services. A notice dated 17.07.2017 was sent to the Corporate Debtor requesting payment, to which the Corporate Debtor replied on 25.08.2017 assuring payment. A final notice dated 27.10.2017 was sent, but no response was received. The applicant issued a demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, on 22.01.2018, for outstanding dues of Rs. 4,50,000/-. The Corporate Debtor did not raise any dispute regarding the payment. The applicant affirmed that they had not received the claimed amount. The Corporate Debtor's

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, should be …

**Ratio:** The application is complete, and the applicant is entitled to claim its dues, which

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**Reasoning:** The court reasoned that the applicant had provided sufficient evidence to demonstrate the

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

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**Application:** In this case, the applicant provided evidence of the Retainership Agreement,

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## Parties

- **Judges:** DEEPTI M…
- **Appellants:** VINOD K…
- **Respondents:** M/S NOESIS…

## Timeline

- **2017-01-28 — Retainership A…**: Applicant and Corporate Debtor…
- **2017-03-07 — Invoices…**: Applicant raised various invoices for consulting services rendered to the corporate…

## 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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