# In the matter of Synaptics Labs Private Limited

> NCLT judgment dated 2025-05-02. Citation: TCN-2025-NCLT-00129. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 2 May 2025
- **Citation:** TCN-2025-NCLT-00129
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/synaptics-labs-private-limited-e2c8432d

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. Anurada Chemicals (Operational Creditor/OC) against M/s. Synaptics Labs Private Limited (Corporate Debtor/CD) for alleged default in payment of operational debt amounting to Rs. 1,25,12,394/-. The OC claimed to have supplied chemicals to the CD, but the CD failed to make payments. The CD handed over two post-dated cheques which were dishonored. The OC sent a Confirmation of Accounts reflecting an outstanding balance, which was acknowledged by the CD. The OC issued a demand notice which was duly delivered, but no reply was received. The CD acknowledged the debt but disputed the quantum.

## Facts

M/s. Anurada Chemicals (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s. Synaptics Labs Private Limited (Corporate Debtor) for default in payment of Rs. 1,25,12,394/-. Synaptics Labs Private Limited was incorporated on 15.10.2018 and is engaged in manufacturing of API and related products. Anurada Chemicals supplied chemicals to Synaptics Labs Private Limited, but the latter failed to make payments. Synaptics Labs Private Limited issued two post-dated cheques totaling Rs. 38,12,750/-, which were dishonored on 02.01.2024 with the remark "Payment Stopped by Drawer." Anurada Chemicals sent a Confirmation of Accounts on 06.02.2024, reflecting an outstanding balance of Rs. 1,32,97,094/-, which

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## Issues and analysis

### Issue 1: Whether the Operational Creditor complied with the mandatory requirements of Section 8 of the IBC …

**Ratio:** Section 8(1) of the IBC mandates that an OC must deliver a Demand Notice to the CD before

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**Reasoning:** The court found that the demand notice was sent to an incorrect address, as the pincode

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**Interpretation:** The court interpreted Section 8(1) and Rule 5(2)(b) strictly, emphasizing the

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**Application:** In this case, the court found that the Operational Creditor failed to comply

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** M/s. Anurada…
- **Respondents:** M/s. Synaptics…

## Timeline

- **2018-10-15 — Incorporation of…**: Synaptics Labs Private Limited…
- **2023-11-10 — Cheque I…**: Corporate Debtor issued…

## 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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