# In the matter of Vishal Mega Mart Private Limited

> NCLT judgment dated 2025-11-07. Citation: TCN-2025-NCLT-01712. Search Pharma Private Limited filed an application under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 7 Nov 2025
- **Citation:** TCN-2025-NCLT-01712
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vishal-mega-mart-private-limited-4df253ae

## Summary

### Background

Search Pharma Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vishal Mega Mart Private Limited for a default amount of Rs. 64,67,067/- including interest. The date of default was 13.01.2014. The application was a transfer from the High Court.

## Facts

Search Pharma Private Limited (Operational Creditor/Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Vishal Mega Mart Private Limited (Corporate Debtor/Respondent).

The default amount claimed was Rs. 64,67,067/- including interest, with the date of default being 13.01.2014.

The Operational Creditor and Corporate Debtor entered into a Memorandum of Understanding dated 26.06.2009 for lease with Corporate Debtor for three years up to 29.06.2012 at a consolidated monthly rent of ₹9,00,000.

The Operational Creditor executed a Lease Deed dated 01.09.2011 and the total Lease amount thus calculated and agreed is Rs. 10,53,548/-.

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## Issues and analysis

### Issue 1: Whether the claim qualifies …

**Ratio:** The definition under Section 5(21) is wide enough to encompass dues payable under law

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**Reasoning:** The Operational Creditor asserted that the liability arises from service tax on lease

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**Interpretation:** Operational debt includes claims related to the provision of services,

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**Application:** While the claim may otherwise fall within the ambit of operational debt, the

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## Parties

- **Judges:** KHETRABASI…; KAUSHALENDRA…
- **Appellants:** Search Pharma…
- **Respondents:** Vishal Mega Mart…
- **Advocates:** Vishav Bharti…; Ashim Agg…

## Timeline

- **2014-01-13 — Date of D…**: The date of default is…
- **2015-11-16 — Winding-up Petition…**: The winding-up petition…

## 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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