# In the matter of Ikontel Solutions Pvt. Ltd. CP (IB) No. 144-BB-2020

> NCLT judgment dated 2022-03-08. Citation: TCN-2022-NCLT-03843. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 8 Mar 2022
- **Citation:** TCN-2022-NCLT-03843
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ikontel-solutions-pvt-ltd-cp-ib-no-144-bb-2020-a5bb21c9

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s. Gupshup Technology India Pvt Ltd (Operational Creditor/Petitioner) against M/s. Ikontel Solutions Pvt Ltd (Corporate Debtor/Respondent) seeking to initiate Corporate Insolvency Resolution Process. The Operational Creditor claims a default amount of Rs. 2,71,24,800/- as of 30.04.2016. The Corporate Debtor failed to file a reply despite multiple opportunities granted by the court.

## Facts

M/s. Gupshup Technology India Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Ikontel Solutions Pvt Ltd (Corporate Debtor) for a default amount of Rs. 2,71,24,800/- as of 30.04.2016. The Corporate Debtor is a company incorporated on 08.01.2014. The Operational Creditor and the Corporate Debtor entered into a business agreement on 17.01.2014 for providing services. The Operational Creditor raised invoices totaling Rs. 57,022,183/-, out of which the Corporate Debtor made part payments of Rs. 38,141,950/-, leaving a balance of Rs. 1,88,80,233/- along with interest of Rs. 82,44,567/-. The Operational Creditor issued a demand notice on 26.05.2018. The Corporate Debtor admitted liability via email dated

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## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016 allows an operational creditor to

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**Reasoning:** The court examined the averments in the petition and the documents filed, finding that

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** The court found that the Operational Creditor had established a default by the

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## Parties

- **Judges:** Ajay Kumar…; Manoj Kumar…
- **Appellants:** M/s Gupshup…
- **Respondents:** M/s. Ikontel…

## Timeline

- **2014-01-08 — Incorporation of…**: M/s. Ikontel Solutions…
- **2014-01-17 — Business Ag…**: The Petitioner and the Respondent…

## 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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