# In the matter of Sreedevi Digital Systems Private Limited CP (IB) No. 12-9-AMR-2019 {CP (IB) No. 273-9-HDB-2018}

> NCLT judgment dated 2019-10-04. Citation: TCN-2019-NCLT-01085. The case involves a dispute between Ice TV Private Limited (the Petitioner/Operational…

- **Court:** NCLT
- **Order date:** 4 Oct 2019
- **Citation:** TCN-2019-NCLT-01085
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sreedevi-digital-systems-private-limited-cp-ib-no-12-9-amr-2019-cp-ib-no-273-9-h-68d9c551

## Summary

### Background

The case involves a dispute between Ice TV Private Limited (the Petitioner/Operational Creditor) and Sreedevi Digital Systems Private Limited (the Respondent/Corporate Debtor) regarding the supply of Digital Set Top Boxes (DSTBs). The Petitioner claims that the Respondent failed to pay the outstanding dues for the supplied DSTBs, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Respondent disputes the claim, alleging suppression and misrepresentation of material information, and contending that there is no debt to clear.

## Facts

Ice TV Private Limited (Petitioner) is a registered company involved in establishing technical and cable networks. Sreedevi Digital Systems Private Limited (Respondent) is a private limited company engaged in trading electronic media and distributing satellite communication. In 2013-14, the Respondent approached the Petitioner to purchase 45,000 units of Digital Set Top Boxes (DSTBs) for its digital cable TV network. The agreed price was Rs. 1020 per DSTB before taxes. The Petitioner supplied the DSTBs between 2014-06-10 and 2014-08-22, raising invoices totaling Rs. 4,81,95,000. The Petitioner also incurred expenses of Rs. 1,28,81,798 towards Customs Duty. Between 2014-06-02 and 2015-10-30, the Respondent paid Rs. 3,15,56,500. Two Memorandum of Understandings (MoUs)

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## Issues and analysis

### Issue 1: Whether the Respondent has brought to the notice of the petitioner the existence of a dispute …

**Ratio:** The Adjudicating Authority under the Code needs to exercise a summary jurisdiction and

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**Reasoning:** The Respondent did not reply within 10 days as statutorily required to the demand notice.

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**Interpretation:** Section 8 of the Code requires that the Respondent (CD), shall within a period

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**Application:** In the instant case the Respondent has failed to comply with the statutory

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## Parties

- **Judges:** MOHAMMED…
- **Appellants:** Ice Tv Pv…
- **Respondents:** Sreedevi Digital…; Sreedevi Digital…

## Timeline

- **2013-01-02 — Petitioner Inco…**: Ice TV Private Limited…
- **2012-12-04 — Respondent Inco…**: Sreedevi Digital Systems…

## 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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