# In the matter of Guman Builders & Developers Private Limited CP No. (IB)-43-9-JPR-2020

> NCLT judgment dated 2022-04-28. Citation: TCN-2022-NCLT-04880. Mr. Rajesh Kumar Sharma, an Operational Creditor, filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 28 Apr 2022
- **Citation:** TCN-2022-NCLT-04880
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-jaipur/guman-builders-developers-private-limited-cp-no-ib-43-9-jpr-2020-e8845648

## Summary

### Background

Mr. Rajesh Kumar Sharma, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 to initiate Corporate Insolvency Resolution Process (CIRP) against Guman Builders & Developers Private Limited, the Corporate Debtor, for defaulting on a payment of Rs. 8,62,484/-.

## Facts

Mr. Rajesh Kumar Sharma, the Applicant, is the proprietor of M/s Sharma Art & Computer and is an Operational Creditor.

Guman Builders & Developers Private Limited, the Respondent, is a company incorporated under the Companies Act, 1956 and is engaged in the real estate business.

The Corporate Debtor defaulted on a payment of Rs. 8,62,484/- to the Operational Creditor for services provided.

The Operational Creditor served a statutory demand notice under section 8 of the Code to the Corporate Debtor on 22.11.2019.

The Corporate Debtor acknowledged its liability for the principal amount of Rs. 3,77,000/- but disputed the interest rate of 18% per annum.

The Enforcement Directorate had attached the properties of the Corporate Debtor due to ongoing proceedings.

…

## Issues and analysis

### Issue 1: Whether the demand notice in Form No. 3 dated …

**Ratio:** The Authority held that the Operational Creditor correctly delivered the demand notice in

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**Reasoning:** The demand notice dated 22.11.2019 was given in person. Copy of the same is annexed as

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**Interpretation:** The service of demand notice is a mandatory requirement under Section 8 of the

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**Application:** The Adjudicating Authority determined that the demand notice was properly

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## Parties

- **Judges:** Deep Chandr…; RAGHU N…; +1 more
- **Appellants:** Rajesh Kumar…
- **Respondents:** Guman Builders &…
- **Other parties:** Lalit Mohan…
- **Advocates:** Shretima…; Ankit S…

## Timeline

- **2019-11-22 — Demand N…**: Operational Creditor served statutory demand notice under section 8 of the Code to the…
- **2020-01-30 — Application…**: The Application was…

## 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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