# In the matter of Shivantika Bon Voyage Private Limited Company Petition (IB) No. 1937-ND-2019

> NCLT judgment dated 2020-06-12. Citation: TCN-2020-NCLT-01180. The case pertains to a Company Petition (IB) No. 1937/ND/2019 filed under Section 9 of the…

- **Court:** NCLT
- **Order date:** 12 Jun 2020
- **Citation:** TCN-2020-NCLT-01180
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shivantika-bon-voyage-private-limited-company-petition-ib-no-1937-nd-2019-c179bd7b

## Summary

### Background

The case pertains to a Company Petition (IB) No. 1937/ND/2019 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, by Tek Travels Private Limited (Operational Creditor) against Shivantika Bon Voyage Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). Tek Travels, a B2B travel service provider, claimed that Shivantika Bon Voyage defaulted on payments for travel services procured since 2018. The Operational Creditor issued 77 invoices amounting to Rs. 47,23,598 between 19.05.2018 and 22.07.2019, out of which Rs. 2,00,000 remained unpaid. A demand notice was sent on 22.07.2019, delivered on 26.07.2019, but no reply was received from the Corporate Debtor. The Corporate Debtor acknowledged the debt of Rs.

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## Facts

Tek Travels Private Limited (Operational Creditor) provided B2B travel services to Shivantika Bon Voyage Private Limited (Corporate Debtor). Between 19.05.2018 and 22.07.2019, Tek Travels issued 77 invoices to Shivantika Bon Voyage, totaling Rs. 47,23,598. Shivantika Bon Voyage made partial payments but defaulted on Rs. 2,00,000. On 05.10.2018, Shivantika Bon Voyage acknowledged a debt of Rs. 2,00,000 via email. The debt included Rs. 2,00,000 as principal and Rs. 42,082 as interest at 24% p.a. From 14.09.2018 to 31.07.2019, the outstanding balance was Rs. 2,42,082. Tek Travels sent a legal/demand notice on 22.07.2019, delivered on 26.07.2019, seeking payment, but Shivantika Bon Voyage did not reply. The Adjudicating Authority debarred Shivantika Bon Voyage from filing

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## Issues and analysis

### Issue 1: Whether the Operational Creditor met the requirements under Sections 8 and 9 of the IBC, 2016, for …

**Ratio:** Sections 8 and 9 of the IBC, 2016, outline the procedure for initiating CIRP by an

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**Reasoning:** The Adjudicating Authority considered that the Operational Creditor had sent a demand

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**Interpretation:** Sections 8 and 9 are interpreted to mean that an operational creditor can

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**Application:** In this case, the Operational Creditor sent a demand notice, and the Corporate

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## Parties

- **Judges:** Sh. Abni Ranjan…; Sh. Kapal Kumar…
- **Appellants:** Tek Travels…
- **Respondents:** Shivantika Bon…; SHIVANTIKA BON…

## Timeline

- **2018-05-01 — Hotel and flight…**: Corporate Debtor made several hotel and flight bookings for its customers through…
- **2018-05-19 — Invoice Perio…**: Start date of the period during which the Operational Creditor issued invoices to the…

## 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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