# In the matter of Sarda Mines Private Limited C.P.(IB) No. 458-KB-2018

> NCLT judgment dated 2018-06-19. Citation: TCN-2018-NCLT-01250. Superior Fire & Security Services Private Limited, the Operational Creditor, filed an…

- **Court:** NCLT
- **Order date:** 19 Jun 2018
- **Citation:** TCN-2018-NCLT-01250
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sarda-mines-private-limited-cpib-no-458-kb-2018-05fa3991

## Summary

### Background

Superior Fire & Security Services Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Sarda Mines Private Limited, the Corporate Debtor, for initiating the corporate insolvency resolution process due to non-payment of dues amounting to Rs. 6,77,72,859/- along with interest at 18% per annum. The Operational Creditor provided security services to the Corporate Debtor, and despite repeated reminders, the Corporate Debtor failed to make payments.

## Facts

Superior Fire & Security Services Private Limited (Operational Creditor) provided security services to Sarda Mines Private Limited (Corporate Debtor). The Corporate Debtor failed to pay outstanding dues of Rs. 6,77,72,859/- along with interest at 18% per annum. The Operational Creditor raised invoices for the services provided, but the Corporate Debtor did not make the payments despite repeated reminders. The default commenced on 30.09.2015. The Operational Creditor issued a Demand Notice on 20.01.2018, which was received by the Corporate Debtor on 29.01.2018, but no reply was given. The Corporate Debtor admitted the debt and did not contest the claim. The Operational Creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency and …

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

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**Reasoning:** The Corporate Debtor admitted the debt and did not contest the claim. The Adjudicating

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

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**Application:** The ratio and reasoning apply to the facts of the case because the Operational

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## Parties

- **Judges:** Jinan…; Madan B.…
- **Appellants:** Superior Fire &…
- **Respondents:** SARDA MINES…
- **Advocates:** Nilendu Bhattachar…; Soumyajit…; +1 more

## Timeline

- **2015-09-30 — Default Comme…**: Default commenced on the date of…
- **2018-01-20 — Demand Notice…**: The Operational Creditor issued a Demand Notice demanding payment of the unpaid…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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