# In the matter of Samarth Softech Solutions Private Limited

> NCLT judgment dated 2024-03-22. Citation: TCN-2024-NCLT-01969. The case involves an application filed by Mr. Tushar Harshadrai Mehta, an Operational Creditor…

- **Court:** NCLT
- **Order date:** 22 Mar 2024
- **Citation:** TCN-2024-NCLT-01969
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/samarth-softech-solutions-private-limited-0907fead

## Summary

### Background

The case involves an application filed by Mr. Tushar Harshadrai Mehta, an Operational Creditor and former director of Samarth Softech Solutions Private Limited (Corporate Debtor), under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an outstanding amount of INR 1,06,03,252/-, comprising principal and interest. The Corporate Debtor contested the claim, arguing that the Operational Creditor had already been paid a substantial amount and that the claimed interest was not supported by any agreement. The Corporate Debtor also disputed the commission claims made by the Operational Creditor.

## Facts

Mr. Tushar Harshadrai Mehta, the Operational Creditor, filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Samarth Softech Solutions Private Limited, the Corporate Debtor, seeking initiation of CIRP. Mr. Mehta, a former director of the Corporate Debtor, claimed an outstanding amount of INR 1,06,03,252/-, which included a principal amount of INR 77,76,159/- and interest of INR 28,27,093/-. The principal claim comprised remuneration and commission payable to Mr. Mehta for services rendered as a technical director. A board resolution dated 20.10.2017 provided for a monthly salary of INR 1,05,952/- and a 4% commission on net payments received by the Corporate Debtor from IT/Electronics technology-based projects. In April 2019,

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the …

**Ratio:** The maintainability of an application under Section 9 of the IBC depends on whether the

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**Reasoning:** The NCLT reasoned that the Operational Creditor's claim did not meet the minimum

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**Interpretation:** Section 4 of the IBC specifies the minimum threshold for initiating CIRP.

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**Application:** The NCLT applied the provisions of Section 4, Section 5(21), and Section 10-A

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## Parties

- **Judges:** ANIL RAJ C…; Kuldip Kumar…
- **Appellants:** TUSHAR HARSHADRAI…
- **Respondents:** SAMARTH SOFTECH…
- **Advocates:** Vinay K.…; Pallavi Ti…; +2 more

## Timeline

- **2017-10-20 — Board Reso…**: Corporate Debtor passed a board resolution for payment of remuneration to the Operational…
- **2017-11-08 — Appointment…**: Appointment Letter issued to…

## 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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