# In the matter of Savera Digital India Private Limited

> NCLT judgment dated 2024-01-10. Citation: TCN-2024-NCLT-03193. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 10 Jan 2024
- **Citation:** TCN-2024-NCLT-03193
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/savera-digital-india-private-limited-1ad553f8

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Rashi Peripherals Private Limited (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Savera Digital India Private Limited (Corporate Debtor). The Operational Creditor claims that the Corporate Debtor defaulted on payments amounting to Rs. 3,13,58,771.72, with the date of default being 08.09.2020. The Adjudicating Authority initially rejected the petition, but the order was set aside by the NCLAT. The NCLT then re-examined the case, finding that the petition was within the limitation period and that the Corporate Debtor had acknowledged the debt on several occasions.

## Facts

Rashi Peripherals Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Savera Digital India Private Limited (Corporate Debtor). The Corporate Debtor is a private limited company incorporated on 17.04.2013. The Operational Creditor supplied laptops, computers, hard-drives, accessories, peripherals, IT and allied products to the Corporate Debtor. The total amount claimed to be in default is Rs. 3,13,58,771.72, with the date of default mentioned as 08.09.2020. The Operational Creditor relied on invoices, acknowledgements of debt, and a cheque issued by the Corporate Debtor. The Corporate Debtor made on account payments but eventually failed to

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted in the …

**Ratio:** The Adjudicating Authority must be satisfied that the Corporate Debtor has defaulted in

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**Reasoning:** The court found that the Corporate Debtor had acknowledged its debt on several occasions

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**Interpretation:** The court interpreted the evidence as demonstrating a clear acknowledgement of

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**Application:** The court applied the ratio to the facts by considering the invoices,

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## Parties

- **Judges:** Rohit K…; Balraj…; +1 more
- **Respondents:** Savera Digital…

## Timeline

- **2013-04-17 — Incorporation of…**: Savera Digital India Private…
- **2020-09-08 — Date of D…**: The date 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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