# In the matter of Sreyas Holistic Remedies Private Limited CP(IB) No. 791-9-HDB-2019

> NCLT judgment dated 2021-11-12. Citation: TCN-2021-NCLT-00518. The case involves an application filed by Ms. A. Chandani, an Operational Creditor, against…

- **Court:** NCLT
- **Order date:** 12 Nov 2021
- **Citation:** TCN-2021-NCLT-00518
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sreyas-holistic-remedies-private-limited-cpib-no-791-9-hdb-2019-167b4bf1

## Summary

### Background

The case involves an application filed by Ms. A. Chandani, an Operational Creditor, against M/s. Shreyas Holistic Remedies Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed a default of Rs. 3,74,004 towards unpaid salary and provident fund. The Corporate Debtor contested the claim, alleging that the Operational Creditor was an ex-employee who had breached the terms of her employment contract and engaged in misconduct, including poaching clients and influencing staff to join a competitor.

## Facts

Ms. A. Chandani, an ex-employee of Shreyas Holistic Remedies Private Limited, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 3,74,004 towards unpaid salary (Rs. 1,95,000 for September-November 2018) and provident fund (Rs. 1,79,004 from March 2015 to December 2018), plus interest. The Corporate Debtor, Shreyas Holistic Remedies Private Limited, argued that Ms. Chandani's claims were false and that she had breached her employment contract by going on an unsanctioned vacation to Bali, poaching clients, and influencing staff to join a competitor, causing financial losses of Rs. 2,13,000. The Corporate Debtor also stated that TDS on salary and PF contributions were made up to 08.10.2018. Ms. Chandani was offered the

…

## Issues and analysis

### Issue 1: Whether the Operational Creditor, Ms. A. Chandani, is entitled to claim unpaid salary and provident …

**Ratio:** The ratio is based on the principle that an operational creditor can initiate corporate

…

**Reasoning:** The court reasoned that the Operational Creditor's claim was disputed by the Corporate

…

**Interpretation:** The interpretation revolves around the requirements for initiating CIRP under

…

**Application:** The court applied the ratio to the facts by considering the Corporate Debtor's

…

## Parties

- **Judges:** Venkata Ramakrishn…; Veera Brahma Rao…
- **Appellants:** A Chan…
- **Respondents:** Shreyas Holistic…

## Timeline

- **2014-08-14 — Letter of…**: Ms. A. Chandani was offered the post of 'Assistant Clinic Manager' vide Letter of Intent…
- **2014-09-01 — Date of J…**: Ms. A. Chandani's date of joining…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/sreyas-holistic-remedies-private-limited-cpib-no-791-9-hdb-2019-167b4bf1