# 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-01248. Superior Fire & Security Services Private Limited, the Operational Creditor, filed an…

- **Court:** NCLT
- **Order date:** 19 Jun 2018
- **Citation:** TCN-2018-NCLT-01248
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sarda-mines-private-limited-cpib-no-458-kb-2018-9dcc14f9

## 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, despite repeated reminders. The Operational Creditor issued a demand notice as per Section 8(1) of the I&B Code, which was received by the Corporate Debtor, but no reply was given. The Corporate Debtor admitted the debt and did not contest the application filed by the Operational Creditor under Section 9 of the I&B Code. The Operational Creditor submitted bank statements confirming the outstanding amount. The default commenced on 2015-09-30, the date of issuance of the first bill.

## 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 Adjudicating Authority observed that the Operational Creditor had complied with all

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**Interpretation:** Section 9 of the I&B Code provides a mechanism for operational creditors to

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**Application:** In this case, the Operational Creditor had issued a demand notice, the

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## Parties

- **Judges:** Jinan…; Madan B.…
- **Appellants:** SUPERIOR FIRE &…
- **Respondents:** SARDA MINES…

## Timeline

- **2015-09-30 — Default Comme…**: The default commenced on the date…
- **2016-03-22 — Reminder…**: Operational Creditor sent a…

## 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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