# In the matter of Sakri IT Solutions Private limited C.P. No. 2100-I&BP-2018

> NCLT judgment dated 2018-08-07. Citation: TCN-2018-NCLT-00985. Ingram Micro India Private Limited filed a Company Petition under Section 9 of the Insolvency…

- **Court:** NCLT
- **Order date:** 7 Aug 2018
- **Citation:** TCN-2018-NCLT-00985
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sakri-it-solutions-private-limited-cp-no-2100-ibp-2018-66d7b825

## Summary

### Background

Ingram Micro India Private Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Sakri IT Solution Private Limited, alleging default in payment. The Corporate Debtor allegedly defaulted on March 24, 2018, in making payments as per the Consent Terms. A prior Company Petition (CP No. 987/2016) was filed before the Bombay High Court, transferred to NCLT Mumbai, renumbered as TCP No. 472/2017, and disposed of based on Consent Terms. The outstanding amount was Rs. 91,00,000, repayable in installments. The Corporate Debtor made partial payments but defaulted on subsequent installments. A Demand Notice was issued on March 13, 2018, demanding Rs. 76,00,000, including defaulted installments. The Corporate Debtor paid Rs.

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## Facts

Ingram Micro India Private Limited (the Petitioner) filed a Company Petition against Sakri IT Solution Private Limited (the Corporate Debtor) under Section 9 of the IBC, alleging default in payment. The Corporate Debtor had entered into Consent Terms to repay an outstanding amount of Rs. 91,00,000 in installments. The Corporate Debtor made some payments totaling Rs. 15,00,000 until February 15, 2018, but defaulted on subsequent installments. A Demand Notice was issued on March 13, 2018, for Rs. 76,00,000. The Corporate Debtor paid Rs. 1,00,000 after the Demand Notice, leaving a balance of Rs. 75,00,000. The Corporate Debtor did not respond to the Demand Notice. The Petitioner filed an affidavit as required under Section 9(3)(b) of the IBC. The Corporate Debtor was not

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## Issues and analysis

### Issue 1: Whether the Petitioner has proved the existence of debt and default as envisaged under the …

**Ratio:** The legal principle applied is that under Section 9 of the IBC, an operational creditor

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**Reasoning:** The court reasoned that based on the petition and the arguments presented by the

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**Interpretation:** This issue involves interpreting the requirements under Section 9 of the IBC

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**Application:** The court applied the ratio to the facts by examining the Consent Terms, the

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## Parties

- **Judges:** Bhaskara Pantula…; V. Nallasen…
- **Appellants:** Ingram Micro…
- **Respondents:** Sakri IT Solution…; Sakri IT Solutions…

## Timeline

- **2016-01-01 — Company Petiti…**: Company Petition No. 987/2016 was filed…
- **2017-01-01 — Petition Transferred…**: The Company Petition was transferred to NCLT, Mumbai Bench, and renumbered as TCP No.…

## 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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