# In the matter of Health India  TPA Services Private Limited CP (IB) No. 4107-MB-IV-2019

> NCLT judgment dated 2023-05-16. Citation: TCN-2023-NCLT-03343. Kyros Soft-Tech Limited, the Operational Creditor/Applicant, filed an application CP (IB) No.…

- **Court:** NCLT
- **Order date:** 16 May 2023
- **Citation:** TCN-2023-NCLT-03343
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/health-india-tpa-services-private-limited-cp-ib-no-4107-mb-iv-2019-a92b0ffa

## Summary

### Background

Kyros Soft-Tech Limited, the Operational Creditor/Applicant, filed an application CP (IB) No. 4107/MB-IV/2019 under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) to initiate Corporate Insolvency Resolution Process (CIRP) against Health India TPA Services Private Limited, the Corporate Debtor. The Operational Creditor claimed a total amount of Rs. 3,06,25,547/- due as of 14.02.2019, with the debt of default being 08.01.2018. The Corporate Debtor argued that there was a pre-existing dispute and that payment was contingent upon receiving funds from insurance companies.

## Facts

Kyros Soft-Tech Limited (Operational Creditor) filed CP (IB) No. 4107/MB-IV/2019 against Health India TPA Services Private Limited (Corporate Debtor) under Section 9 of the I&B Code, seeking to initiate CIRP. The Operational Creditor claimed Rs. 3,06,25,547/- was due as of 14.02.2019, with the default date being 08.01.2018. An agreement dated 30.01.2015 existed between the parties for Kyros to provide work services related to beneficiary enrollment and smart card issuance. The total invoices raised by Kyros amounted to Rs. 3,44,78,067/-, of which Rs. 38,52,520/- had been paid. The Corporate Debtor argued a pre-existing dispute, stating the agreement was incomplete and payment was contingent on receiving funds from insurance companies. The Corporate Debtor filed an

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## Issues and analysis

### Issue 1: Whether the debt claimed by the Operational Creditor is in default, considering the agreement …

**Ratio:** The obligation to pay arises only upon the receipt of corresponding payment from the

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**Reasoning:** The court reasoned that the service agreement stipulated payment to the Operational

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**Interpretation:** The court interpreted the service agreement to mean that the Corporate Debtor's

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**Application:** The court applied this interpretation to the facts, noting that the Corporate

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** KYROS SOFT-TECH…
- **Respondents:** HEALTH INDIA TΡΑ…

## Timeline

- **2015-01-30 — Agreement…**: Agreement between Kyros Soft-Tech Limited and Health India TPA Services Private Limited…
- **2018-01-08 — Date of D…**: The debt of default is…

## 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)

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