# In the matter of Reliance Tech Services Limited CP (IB) No.2483-MB.IV-2019

> NCLT judgment dated 2020-08-04. Citation: TCN-2020-NCLT-00904. The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 4 Aug 2020
- **Citation:** TCN-2020-NCLT-00904
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/reliance-tech-services-limited-cp-ib-no2483-mbiv-2019-43f05643

## Summary

### Background

The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Ajit Kumar Yadav and seven other operational creditors, who are former employees, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Reliance Tech Services Limited. The operational creditors claim that the corporate debtor failed to pay their salaries after terminating their employment contracts. The petition was filed on 2019-06-28, alleging a default of ₹62,82,770.00 as principal and ₹10,76,161.04 as interest as of 2018-01-02.

## Facts

Ajit Kumar Yadav and seven other former employees of Reliance Tech Services Limited filed a Company Petition under Section 9 of the IBC to initiate CIRP against the company. The Corporate Debtor is an unlisted public company incorporated on 2007-07-30. The Operational Creditors' employment contracts were terminated two months after they were hired, with an agreement that their salaries would be paid up to 2018-04-30. Full and Final Settlement Slips were issued by the Corporate Debtor, specifying the amounts payable to each employee. However, the Corporate Debtor failed to make any payments despite consistent follow-up by the employees. The total debt due to the Operational Creditors is ₹73,58,931.04. The Operational Creditors served two Demand Notices in Form 3 dated

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## Issues and analysis

### Issue 1: Whether the application made by the Operational Creditors is complete in all respects as required …

**Ratio:** The application is considered complete if it meets the requirements specified under the

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**Reasoning:** The court found that the application was complete because it demonstrated that the

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**Interpretation:** The completeness of the application is determined by whether it contains all

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**Application:** The court applied this principle by examining the documents submitted by the

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Ajit Kumar…
- **Respondents:** Reliance Tech…

## Timeline

- **2007-07-30 — Incorporation of…**: Reliance Tech Services Limited was…
- **2017-01-01 — Employment Co…**: Operational Creditors entered into contracts…

## 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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