# In the matter of STERNE INDIA PRIVATE LIMITED

> NCLT judgment dated 2025-04-22. Citation: TCN-2025-NCLT-00195. The case involves a petition filed by G4S Secure Solutions India Private Limited, an…

- **Court:** NCLT
- **Order date:** 22 Apr 2025
- **Citation:** TCN-2025-NCLT-00195
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sterne-india-private-limited-f8f8dffd

## Summary

### Background

The case involves a petition filed by G4S Secure Solutions India Private Limited, an operational creditor, against Sterne India 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 provided security services to the corporate debtor based on a contract dated 07.12.2022. The corporate debtor allegedly defaulted on payments for these services, leading to the petition. The initial date of default was mentioned as 31.05.2023 but later rectified to be between 30.06.2023 and 30.05.2024, corresponding to the expiry of 30 days from each invoice. The corporate debtor acknowledged the debt but cited financial distress and inability to

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## Facts

G4S Secure Solutions India Private Limited (Operational Creditor) provided security services to Sterne India Private Limited (Corporate Debtor) under a contract dated 07.12.2022. The Corporate Debtor approached the Operational Creditor in 2022 seeking security services at various locations. The Operational Creditor provided services at locations including Kolkata, Raipur, Ranchi, Patna, Bhubaneswar, Bilaspur, Delhi, Gurugram, Jaipur, Punjab, Agra, Lucknow, Saharanpur, Azamgarh, and Rudrapur. The Operational Creditor raised invoices for these services, with payment terms requiring the Corporate Debtor to clear invoices within 30 days of receipt. The Corporate Debtor defaulted on payments, resulting in an outstanding amount of Rs.1,20,33,250/-. The initial date of

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## Issues and analysis

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

**Ratio:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a corporate

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**Reasoning:** The court considered the evidence presented by the Operational Creditor, including the

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**Interpretation:** Section 9 of the IBC provides a mechanism for operational creditors to recover

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**Application:** In this case, the Operational Creditor demonstrated the existence of a debt

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** G4S SECURE…
- **Respondents:** STERNE INDIA…

## Timeline

- **2016-01-01 — Enactment of Insolvency…**: The Insolvency and…
- **2022-12-07 — Contract for Security…**: G4S Secure Solutions India Private Limited and Sterne India Private Limited entered into…

## 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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