# In the matter of Sri Marg Human Resource Private Limited

> NCLT judgment dated 2024-12-18. Citation: TCN-2024-NCLT-00038. The case involves an application filed by Gee Vee Human Solutions India Private Limited, the…

- **Court:** NCLT
- **Order date:** 18 Dec 2024
- **Citation:** TCN-2024-NCLT-00038
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sri-marg-human-resource-private-limited-a8be10f0

## Summary

### Background

The case involves an application filed by Gee Vee Human Solutions India Private Limited, the Operational Creditor, against Sri Marg Human Resources Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for manpower services provided as per an agreement dated 02.02.2021. The total debt, including principal and interest, amounted to Rs. 1,61,06,360/-. The Corporate Debtor failed to make payments despite repeated reminders and a demand notice issued under Section 8 of the IBC, 2016.

## Facts

Gee Vee Human Solutions India Private Limited (Operational Creditor) filed an application against Sri Marg Human Resources Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor provides manpower services and entered into an agreement with the Corporate Debtor on 02.02.2021. As per the agreement, the Operational Creditor would supply manpower services, and the Corporate Debtor was required to make payments within 15 days of receiving invoices. The Corporate Debtor placed orders through personal meetings, and the Operational Creditor provided services without any objections or complaints. Several invoices were raised for the

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the IBC, 2016, is …

**Ratio:** Section 9(5) of the IBC, 2016, states that the Adjudicating Authority shall admit the

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**Reasoning:** The Tribunal considered the facts and circumstances of the case, the position of law, and

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**Interpretation:** Section 9(5) of the IBC, 2016, mandates the Adjudicating Authority to admit the

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**Application:** The Tribunal applied Section 9(5) of the IBC, 2016, to the facts of the case

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** Gee Vee Human…
- **Respondents:** Marg Human…; Marg Human…
- **Advocates:** K.Sengut…

## Timeline

- **2021-02-02 — Agreement…**: Parties entered into an…
- **2021-03-27 — Invoice…**: Invoice No. 0017 was…

## 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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