# In the matter of GLD SOFTWARE PRIVATE LIMITED

> NCLT judgment dated 2025-06-05. Citation: TCN-2025-NCLT-00926. Alten Calsoft Labs (India) Private Limited filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 5 Jun 2025
- **Citation:** TCN-2025-NCLT-00926
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/gld-software-private-limited-6aca9b3b

## Summary

### Background

Alten Calsoft Labs (India) Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against GLD Software Private Limited, the Corporate Debtor, due to unpaid operational debt.

## Facts

Alten Calsoft Labs (India) Private Limited filed C.P. (IB) No.232/MB/2025 on 21.11.2024 under Section 9 of the IBC.

The operational debt claimed is Rs.3,09,01,322/- including interest.

The date of default is 14.10.2022.

A Master Service Agreement was entered into between the parties on 01.06.2022.

The Corporate Debtor availed services from the Applicant in 2022.

The Applicant issued a demand notice dated 21.06.2024 under Section 8 of the Code.

The Corporate Debtor did not appear or file a reply, leading to an ex-parte order.

The Applicant proposed Mr. G. Ramchandran as the Interim Resolution Professional (IRP).

The debt and default are authenticated by NeSL.

The Applicant is directed to deposit Rs.3,00,000/- with the IRP to meet initial CIRP costs.

## Issues and analysis

### Issue 1: Whether the application under …

**Ratio:** The application is maintainable

…

**Reasoning:** The Applicant has substantiated the existence of an operational debt due and payable by

…

**Interpretation:** Section 9 allows an operational creditor to initiate CIRP if a corporate debtor

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**Application:** The Tribunal found that the Applicant had met the requirements of Section 9,

…

## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Alten Calsoft…
- **Respondents:** GLD Software…
- **Other parties:** Seja…; G. Ramcha…
- **Advocates:** Fatema Kac…; Kabir S…

## Timeline

- **2024-11-21 — Application…**: C.P. (IB) No.232/MB/2025 filed by Alten…
- **2022-10-14 — Date of D…**: First default date…

## 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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