# In the matter of Pioneer Business Samadhan Pvt. Ltd. C.P (IB) No.1054-KB-2018

> NCLT judgment dated 2022-02-16. Citation: TCN-2022-NCLT-04106. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 16 Feb 2022
- **Citation:** TCN-2022-NCLT-04106
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/pioneer-business-samadhan-pvt-ltd-cp-ib-no1054-kb-2018-5f751674

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by SITI Networks Limited (Operational Creditor) against Pioneer Business Samadhan Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). SITI Networks claimed that Pioneer Business Samadhan defaulted on payments for services rendered related to carrying/placing TV channels on SITI's network. An agreement was executed on March 26, 2016, and was in force from March 18, 2016, to March 31, 2017. SITI Networks raised invoices on September 18, 2016, amounting to Rs. 11,04,000, but only received Rs. 5,49,600, leaving a balance of Rs. 5,54,400. A demand notice under Section 8 of the IBC was served on June 15, 2018, but the Corporate

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## Facts

SITI Networks Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Pioneer Business Samadhan Private Limited (Corporate Debtor). The Operational Creditor and Corporate Debtor entered into an agreement on March 26, 2016, effective from March 18, 2016, to March 31, 2017, where the Operational Creditor would carry/place the TV channels of the Corporate Debtor on its network in exchange for a carriage/placement fee. The Operational Creditor raised invoices on September 18, 2016, for Rs. 11,04,000. The Corporate Debtor paid Rs. 5,49,600, leaving a balance of Rs. 5,54,400. The Operational Creditor issued a demand notice under Section 8 of the IBC on June 15, 2018, which the Corporate Debtor received but did

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## Issues and analysis

### Issue 1: Whether the application 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 noted that the Operational Creditor had filed the application under Section 9

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**Interpretation:** Section 9 provides the mechanism for operational creditors to initiate CIRP

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**Application:** The court found that the Operational Creditor had met the requirements of

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## Parties

- **Judges:** Rohit K…; Harish Chander…; +1 more
- **Appellants:** Siti Networks…
- **Respondents:** PIONEER BUSINESS…

## Timeline

- **2016-03-26 — Agreement Ex…**: Agreement executed between SITI Networks Limited and Pioneer Business Samadhan Private…
- **2016-03-18 — Agreement Effec…**: Agreement between SITI Networks Limited and Pioneer Business Samadhan Private Limited…

## 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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