# In the matter of Source Dot Com Private Limited

> NCLT judgment dated 2025-05-21. Citation: TCN-2025-NCLT-00058. The Operational Creditor, Stratvisors Private Limited, filed an application under Section 9 of…

- **Court:** NCLT
- **Order date:** 21 May 2025
- **Citation:** TCN-2025-NCLT-00058
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/source-dot-com-private-limited-0b0e42e7

## Summary

### Background

The Operational Creditor, Stratvisors Private Limited, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Source Dot Com Private Limited, due to unpaid operational debt. The Operational Creditor provided IT services, including digital marketing and annual maintenance contracts, to the Corporate Debtor from 01.04.2019 to 31.01.2023. Invoices were raised, and no dispute was raised by the Respondent during that period. The Corporate Debtor's audited balance sheet for the year ending 31.03.2021 acknowledged a liability of Rs. 2,33,38,459/-. Part payments were made, but a principal amount of Rs. 1,18,38,460/- remained unpaid. A demand notice in Form 3 was

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## Facts

Stratvisors Private Limited (Operational Creditor) provided IT services to Source Dot Com Private Limited (Corporate Debtor) from 01.04.2019 to 31.01.2023. Invoices were raised for these services. The Corporate Debtor's audited balance sheet for the year ending 31.03.2021 acknowledged a liability of Rs. 2,33,38,459/-. Part payments of Rs. 60,00,000/- and Rs. 55,00,000/- were made on 17.06.2021 and 18.06.2021, respectively. A principal amount of Rs. 1,18,38,460/- remained unpaid. A demand notice in Form 3 was issued on 30.05.2023, and the Respondent acknowledged receipt on 11.10.2024. The Corporate Debtor filed Civil Suit No. CS/403/2023 on 08.06.2023, after the demand notice. The Operational Creditor sent an email on 05.09.2022 regarding the pending payment. The

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## Issues and analysis

### Issue 1: Whether a pre-existing dispute existed between the Operational Creditor and the Corporate Debtor …

**Ratio:** For a dispute to be considered pre-existing, it must exist before the receipt of the

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**Reasoning:** The Corporate Debtor's civil suit was filed after the demand notice was issued. The email

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**Interpretation:** The existence of a dispute must be clearly established and communicated to the

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**Application:** The Corporate Debtor's civil suit was filed after the demand notice, and the

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## Parties

- **Judges:** Rammurti Ku…; Yogendra Kumar…
- **Appellants:** Stratvisors…
- **Respondents:** Source Dot Com…
- **Advocates:** Shailendra…; A. Dhas…; +3 more

## Timeline

- **2019-04-01 — Service Perio…**: Operational Creditor provided IT…
- **2023-01-31 — Service Per…**: Operational Creditor provided IT…

## 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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