# In the matter of D S HOME CONSTRUCTION PRIVATE LIMITED

> NCLT judgment dated 2025-05-09. Citation: TCN-2025-NCLT-00082. The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 9 May 2025
- **Citation:** TCN-2025-NCLT-00082
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/d-s-home-construction-private-limited-1b7632d2

## Summary

### Background

The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Unified Credit Solutions Private Limited (Operational Creditor) through Mr. Samir Sethi, against M/s DS Home Construction Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims default in payment of lease rent by the Corporate Debtor. The Corporate Debtor had approached the Operational Creditor in 2020 for leasing premises for its office use. A lease agreement was executed on October 1, 2020. The Corporate Debtor took possession of the premises in November 2020 but allegedly defaulted on lease rent payments from July 2022. The Operational Creditor issued a demand notice on November

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## Facts

In 2020, M/s DS Home Construction Pvt. Ltd. (Corporate Debtor) approached M/s Unified Credit Solutions Private Limited (Operational Creditor) to lease premises for its office. A lease agreement was executed on October 1, 2020, and the Corporate Debtor took possession in November 2020. The Corporate Debtor allegedly defaulted on lease rent payments starting July 2022. The Operational Creditor claims that the Corporate Debtor concocted a false story about attachment of bank accounts by HRRERA to evade payment. The Corporate Debtor also allegedly misrepresented the reason for electricity disconnection. Despite receiving a termination notice, the Corporate Debtor failed to vacate the premises, leading the Operational Creditor to file an eviction petition. The Corporate

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## Issues and analysis

### Issue 1: Whether there is an ‘Operational Debt' exceeding Rs. …

**Ratio:** The definition of 'Operational Debt' under Section 5(21) of The Insolvency and Bankruptcy

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**Reasoning:** The Adjudicating Authority considered the invoices and ledger account of the Corporate

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**Interpretation:** The interpretation of 'Operational Debt' includes debts arising from lease

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**Application:** The outstanding lease rent, along with interest, qualifies as an 'Operational

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; ATUL CHAT…
- **Appellants:** Samir S…
- **Respondents:** M/S DS HOME…

## Timeline

- **2020-01-01 — Corporate Debtor…**: The Corporate Debtor approached the Operational Creditor for lease of premises for office…
- **2020-10-01 — Lease Agreement…**: A Lease Agreement was executed between the…

## 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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