# In the matter of Secur Credentials Ltd. C.P.(IB) No. 238-BB-2019

> NCLT judgment dated 2019-07-12. Citation: TCN-2019-NCLT-02545. The case involves C.P(IB) No.238/BB/2019 filed by M/s.GetUpForChange Services Pvt. Ltd…

- **Court:** NCLT
- **Order date:** 12 Jul 2019
- **Citation:** TCN-2019-NCLT-02545
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/secur-credentials-ltd-cpib-no-238-bb-2019-7dddab68

## Summary

### Background

The case involves C.P(IB) No.238/BB/2019 filed by M/s.GetUpForChange Services Pvt. Ltd (Petitioner/Operational Creditor) under Section 9 of the IBC, 2016, read with Rule 6 of the I&B(AAA) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s.SecUR Credentials Ltd (Respondent/Corporate Debtor). The petitioner alleged a default of Rs.10,304,94/- along with interest at 18% p.a.

## Facts

M/s.GetUpForChange Services Pvt. Ltd, an operational creditor, filed C.P(IB) No.238/BB/2019 against M/s.SecUR Credentials Ltd, alleging a default of Rs.10,304,94/- plus interest. The petition was filed under Section 9 of the IBC, 2016, seeking to initiate CIRP. The Registry raised objections to the application, which were not addressed. The case was listed on 01.07.2019, but neither the petitioner nor their counsel appeared. The case was then listed for dismissal on 12.07.2019, and again, neither party appeared. This lack of appearance indicated a lack of interest in prosecuting the case.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) should be initiated against M/s.SecUR …

**Ratio:** The initiation of CIRP requires the applicant to diligently pursue the application and

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**Reasoning:** The court reasoned that the petitioner's failure to address the registry's objections and

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**Interpretation:** The legal issue revolves around the operational creditor's responsibility to

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**Application:** In this case, the petitioner's failure to address the registry's objections and

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## Parties

- **Judges:** Rajeswara Rao…; DR ASHOK KUMAR…
- **Appellants:** M/s.GetUpForChange…
- **Respondents:** M/s.SecUR…

## Timeline

- **2019-05-20 — Petition…**: The Petition was filed…
- **2019-05-28 — Office Objectio…**: The Registry raised certain office…

## 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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