# In the matter of Parity Systems Private Limited CP (IB) No. 75-9-HDB-2020

> NCLT judgment dated 2021-12-01. Citation: TCN-2021-NCLT-00326. The operational creditor, Microcare Computers Pvt Ltd, filed a petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 1 Dec 2021
- **Citation:** TCN-2021-NCLT-00326
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/parity-systems-private-limited-cp-ib-no-75-9-hdb-2020-73e220b3

## Summary

### Background

The operational creditor, Microcare Computers Pvt Ltd, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, Parity Systems Pvt Ltd, due to unpaid operational debt. The operational creditor claimed an amount of Rs. 54,15,910/-, comprising a principal amount of Rs. 35,63,098/- and interest of Rs. 18,52,812/- as of 31.12.2019. The operational creditor had supplied computer hardware to the corporate debtor based on a purchase order dated 22.11.2016, and raised a tax invoice dated 17.12.2016. The corporate debtor made partial payments totaling Rs. 1,39,70,935/-, leaving a balance of Rs. 35,63,098/-. Despite repeated requests, the corporate debtor

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## Facts

Microcare Computers Pvt Ltd (operational creditor) claimed Rs. 54,15,910/- from Parity Systems Pvt Ltd (corporate debtor), including Rs. 35,63,098/- principal and Rs. 18,52,812/- interest as of 31.12.2019. The debt arose from the supply of computer hardware based on a purchase order dated 22.11.2016. Tax Invoice No. 160102562 was issued on 17.12.2016 for Rs. 1,75,34,033/-, and the products were acknowledged by the corporate debtor on 22.12.2016. The corporate debtor paid Rs. 1,39,70,935/-, leaving a balance of Rs. 35,63,098/-. The operational creditor issued a Form-3 notice, which was returned unclaimed. The corporate debtor failed to make the balance payment despite repeated requests. The operational creditor filed a petition under Section 9 of the IBC. The corporate

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## Issues and analysis

### Issue 1: Whether the operational creditor, Microcare Computers Pvt Ltd, is entitled to initiate Corporate …

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

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**Reasoning:** The court considered the documents presented by the operational creditor, including the

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**Interpretation:** Section 9 of the IBC provides a mechanism for operational creditors to recover

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**Application:** In this case, the operational creditor demonstrated the existence of an

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## Parties

- **Judges:** Venkata Ramakrishn…; Veera Brahma Rao…
- **Appellants:** Microcare…
- **Respondents:** Parity Systems…
- **Advocates:** V.Shiva…

## Timeline

- **2016-11-22 — Purchase…**: Corporate debtor placed purchase…
- **2016-12-17 — Tax Invo…**: Operational creditor raised…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 11 — Persons not entitled to make application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-11)

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