# In the matter of Boltt Sports Technologies Private Limited (IB)-213(ND)2020

> NCLT judgment dated 2022-10-17. Citation: TCN-2022-NCLT-00718. Arm Digital Media Private Limited, the Applicant/Operational Creditor, filed a petition under…

- **Court:** NCLT
- **Order date:** 17 Oct 2022
- **Citation:** TCN-2022-NCLT-00718
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/boltt-sports-technologies-private-limited-ib-213nd2020-c6323548

## Summary

### Background

Arm Digital Media Private Limited, the Applicant/Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process against Boltt Sports Technologies Private Limited, the Respondent. The applicant provided digital agency services to the respondent, and an agreement was entered on 25.07.2016 for Digital PR Services. The applicant raised 25 invoices from 03.09.2016 to 24.07.2017 for a total amount of Rs. 71,68,692, which the Corporate Debtor failed to pay in time. A Commercial Settlement Agreement was entered on 31.08.2017, where the respondent agreed to pay the dues through post-dated cheques in 6 installments. The first four payments totaling Rs. 21,00,000 were received,

…

## Facts

Arm Digital Media Private Limited (Operational Creditor) provided digital agency services to Boltt Sports Technologies Private Limited (Corporate Debtor). An 'Agreement for Digital PR Services' was entered on 25.07.2016. The terms included a retainer fee of Rs. 3 lakh per month and 10% of media buy as agency commission, payable within 30 days of invoice receipt. The applicant raised 25 invoices from 03.09.2016 to 24.07.2017, totaling Rs. 71,68,692, which remained unpaid. A 'Commercial Settlement Agreement' was made on 31.08.2017, with the respondent agreeing to pay dues via 6 post-dated cheques. The cheque dates were 10th October 2017, 10th November 2017, 10th December 2017, 10th January 2018, 10th February 2018, and 10th March 2018. The first four payments (Rs.

…

## Issues and analysis

### Issue 1: Whether the Applicant has failed to serve the Demand Notice under section 8 of IBC on the …

**Ratio:** The delivery of a demand notice in the prescribed form is a mandatory requirement for

…

**Reasoning:** The court found that the Applicant annexed postal receipts but failed to provide any

…

**Interpretation:** Section 8 of the IBC and Rule 5 of the Insolvency and Bankruptcy (Application

…

**Application:** In this case, the Applicant's failure to provide sufficient proof of delivery

…

## Parties

- **Judges:** BACHU VENKAT…; L. N. G…
- **Appellants:** Arm Digital Media…
- **Respondents:** Boltt Sports…

## Timeline

- **2016-07-25 — Agreement for Digital…**: Applicant and Respondent entered into an…
- **2016-09-03 — Invoices…**: Applicant raised 25 invoices from 03.09.2016 to 24.07.2017 for a total amount of Rs.…

## 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)

---

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-division-bench-court-i-chenn/boltt-sports-technologies-private-limited-ib-213nd2020-c6323548