# In the matter of Sigma Techinfra Solutions (India) Private Limited

> NCLT judgment dated 2023-07-11. Citation: TCN-2023-NCLT-05337. The case involves a Section 9 application under the Insolvency & Bankruptcy Code, 2016 (IBC)…

- **Court:** NCLT
- **Order date:** 11 Jul 2023
- **Citation:** TCN-2023-NCLT-05337
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/sigma-techinfra-solutions-india-private-limited-61aa67e7

## Summary

### Background

The case involves a Section 9 application under the Insolvency & Bankruptcy Code, 2016 (IBC) filed by Sudesh Ramkrishna Bhosle (Operational Creditor) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Sigma TechInfra Solutions (India) Private Limited (Corporate Debtor).

## Facts

Sudesh Ramkrishna Bhosle, the Operational Creditor, filed a Company Petition under Section 9 of the IBC, 2016.

The Operational Creditor claimed a default amount of Rs. 13,26,88,000/- as of 01.10.2020.

The Operational Creditor is engaged in the business of consultancy to Real Estate Companies and had a contract with the Corporate Debtor.

The Corporate Debtor failed to provide services as agreed and failed to deposit the GST.

The Operational Creditor issued a Demand Notice under Section 8 of IBC on 23.04.2021.

The date of default falls within the period prescribed by Section 10A of the IBC.

The Corporate Debtor raised an invoice No. STSIPL/Mum/SRB/2020-21/230 dated 31.05.2020 amounting to Rs. 11,80,00,000/-.

…

## Issues and analysis

### Issue 1: Whether the application for initiation of CIRP is maintainable when the date of default falls …

**Ratio:** Section 10A of the IBC prohibits the initiation of CIRP for defaults occurring on or

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**Reasoning:** The Adjudicating Authority observed that the date of default in this case is 01.10.2020,

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**Interpretation:** Section 10A provides a bar on initiating CIRP for defaults occurring during the

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**Application:** Since the default occurred on 01.10.2020, the application filed by the

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Sudesh Ramkrishna…
- **Respondents:** Sigma Techinfra…
- **Advocates:** Arnab D…; Manoj M…

## Timeline

- **2021-06-04 — Filing of Company…**: The Company Petition…
- **2020-10-01 — Date of D…**: The date of default as specified in…

## 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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