# In the matter of Sanden Vikas (India) Pvt. Ltd. IB-1255-(ND)-2018

> NCLT judgment dated 2019-05-20. Citation: TCN-2019-NCLT-03256. Ankit Shukla, an Operational Creditor, filed an application against M/S Sanden Vikas (India)…

- **Court:** NCLT
- **Order date:** 20 May 2019
- **Citation:** TCN-2019-NCLT-03256
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sanden-vikas-india-pvt-ltd-ib-1255-nd-2018-9150729c

## Summary

### Background

Ankit Shukla, an Operational Creditor, filed an application against M/S Sanden Vikas (India) Pvt. Ltd., the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor was previously employed by the Corporate Debtor as AGM-R&D and resigned on 04.02.2018. The Operational Creditor claimed outstanding dues of Rs. 13,08,000/-. The Corporate Debtor issued a legal notice to the Operational Creditor claiming damages and loss of Rs. 1,58,00,000/-. The Corporate Debtor also filed a recovery suit against the Operational Creditor, which is pending adjudication.

## Facts

Ankit Shukla, the applicant, was an employee of M/S Sanden Vikas (India) Pvt. Ltd. and resigned on 04.02.2018. He claimed that the Corporate Debtor owed him Rs. 13,08,000/-. The Corporate Debtor issued a legal notice dated 29.05.2018 to the applicant, claiming damages of Rs. 1,58,00,000/-. The applicant issued a demand notice under Section 8 of the Code on 20.08.2018. The Corporate Debtor filed a civil suit for recovery against the applicant, which is pending adjudication. The Corporate Debtor argued that the applicant had failed to provide a break-up of the alleged debt. The applicant expressed willingness to withdraw the application in an email dated 05.10.2018.

## Issues and analysis

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

**Ratio:** The existence of a pre-existing dispute between the operational creditor and the

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**Reasoning:** The Adjudicating Authority observed that the Corporate Debtor had issued a legal notice

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**Interpretation:** Section 9(5)(ii)(d) of the IBC requires the Adjudicating Authority to reject an

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**Application:** In this case, the Corporate Debtor issued a legal notice to the Operational

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## Parties

- **Judges:** R. VARADH…; DeepaKr…
- **Appellants:** Ankit S…
- **Respondents:** M/S Sanden Vikas…

## Timeline

- **1982-09-25 — Company Incor…**: M/S Sanden Vikas (India)…
- **2016-06-01 — Appointment of…**: Ankit Shukla was appointed as…

## 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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