# In the matter of Tharakan Web Innovations Pvt. Ltd. IA No. 175-KOB-2020 in IBA-34-KOB-2020

> NCLT judgment dated 2020-12-01. Citation: TCN-2020-NCLT-00189. The case involves IA/175/KOB/2020 filed by the Corporate Debtor, Tharakan Web Innovations Pvt.…

- **Court:** NCLT
- **Order date:** 1 Dec 2020
- **Citation:** TCN-2020-NCLT-00189
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tharakan-web-innovations-pvt-ltd-ia-no-175-kob-2020-in-iba-34-kob-2020-066987fb

## Summary

### Background

The case involves IA/175/KOB/2020 filed by the Corporate Debtor, Tharakan Web Innovations Pvt. Ltd., in IBA/34/KOB/2020 under Rule 32 of the NCLT Rules, 2016, seeking a declaration that IBA/34/KOB/2020 is not maintainable in light of Annexure A2 Notification. The Corporate Debtor argued that the Operational Creditor, Cyriac Njavally, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) prematurely. The Corporate Debtor contended that the mandatory 10-day period to object to the demand notice or repay the debt had not elapsed when the Operational Creditor filed the application. The Corporate Debtor also argued that the initial IB Application served was incomplete and that the date of filing was different from the date on the application.

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## Facts

M/s Tharakan Web Innovations Pvt. Ltd. is the Corporate Debtor. Cyriac Njavally is the Operational Creditor. The Corporate Debtor filed IA/175/KOB/2020 in IBA/34/KOB/2020 seeking a declaration that IBA/34/KOB/2020 is not maintainable. A Form 3 Demand Notice dated 25.02.2020 was issued under Rule 8 of the Insolvency and Bankruptcy Code 2016 and was received by the Corporate Debtor on 02.03.2020. The Operational Creditor filed an application under Section 9 of the IBC. The Corporate Debtor had time until 12.03.2020 to file a reply disputing the demand. The initial IB Application served on the Corporate Debtor was received on 12.06.2020 and contained blank dates. A filled-in copy of the application was served to the Counsel for the Applicant, showing the date of the

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## Issues and analysis

### Issue 1: Whether the application under …

**Ratio:** An application under Section 9 becomes maintainable only after the expiry of the period

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**Reasoning:** The court reasoned that the Operational Creditor could not have maintained a complaint on

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**Interpretation:** Section 9 of the IBC requires a mandatory waiting period of 10 days after the

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**Application:** In this case, the notice was received on 02.03.2020, and the application was

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## Parties

- **Judges:** Ashok Kumar…
- **Respondents:** M/S.THARAKAN WEB…; Cyriac Nj…
- **Advocates:** Joseph Kodi…; Akhil S…

## Timeline

- **2020-02-25 — Demand N…**: Form 3 Demand Notice dated 25.02.2020 was issued under Rule 8 of the Insolvency and…
- **2020-03-02 — Receipt of Dema…**: The Demand Notice was received by…

## 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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