Demand notice under Section 8 must be validly served; failure to do so renders the Section 9 application non-maintainable.

IN THE NATIONAL COMPANY LAW TRIBUNAL

NEW DELHI

BENCH-IV

Under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with

Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating

Authority), Rules, 2016

IN THE MATTER OF:

DELHIVERY LIMITED …. Operational Creditor/Applicant

Versus

FUTURETIMES TECHNOLOGY

INDIA PRIVATE LIMITED

…. Corporate Debtor/Respondent

CORAM:

SHRI MANNI SANKARIAH SHANMUGA SUNDARAM,

HON’BLE MEMBER (JUDICIAL)

SHRI ATUL CHATURVEDI

HON’BLE MEMBER (TECHNICAL)

Order Delivered on: 22.07.2025

PRESENT:

For the Applicant : Adv. Rahul, Adv. Vardaan Jain

For the Respondent : Adv. Charu Ambwan, Adv. Shreya Garg

for R-1, Adv. Subhojit Dutta for R-5, Adv.

Videh Vaish, Adv. Lalit Mohan for R-4

ORDER

PER: ATUL CHATURVEDI, MEMBER (TECHNICAL)

1. This instant application was filed by Delhivery Limited (hereinafter referred as ‘Applicant’/ ‘Operational Creditor’) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity ‘the Code’) with a prayer to initiate Corporate Insolvency Resolution Process in respect of Futuretimes Technology India Private Limited (hereinafter referred as ‘Respondent’ or ‘Corporate Debtor’) for defaulting the payment of total amounting to Rs. 1,88,72,046/- (Rupees One Crore Eighty-Eight Lakhs Seventy-Two Thousand and Forty-Six Only) to be paid by the Corporate Debtor.

2. The Respondent Company Futuretimes Technology India Private Limited having CIN: U74999DL2018FTC338848, incorporated on 22.06.2011 under the provisions of the Companies Act, 1956, is having its registered office situated at A-16, First Floor, Vasant Kunj Marg, Aruna Asaf Ali Marg, Qutab Institutional Area, New Delhi - 110067. Since the registered office of the respondent corporate debtor is in New Delhi, this Tribunal having jurisdiction over the NCT of Delhi is the Adjudicating Authority in relation to the prayer for initiation of Corporate Insolvency Resolution Process in respect of respondent corporate debtor under sub-section (1) of Section 60 of the Code.

3. Briefly stated the facts of the present case as averred by the Applicant/ Operational Creditor are: -

a) The Applicant submitted that the Corporate Debtor had been availing courier and logistical services from the Operational Creditor since the Financial Year 2018–19. In furtherance of such commercial dealings, the Corporate Debtor entered into a Service Agreement dated 08.10.2018 (hereinafter referred to as the "Principal Agreement") with the Operational Creditor for the provision of delivery and related services. Owing to the Operational Creditor’s efficient and timely performance, and in light of the increasing business requirements of the Corporate Debtor, the parties subsequently executed two supplementary agreements dated 29.08.2019 ("Addendum 1") and 23.01.2020 ("Addendum 2") respectively, thereby expanding the scope of services under the Principal Agreement.

b) That on 12.11.2019, the Corporate Debtor, previously known as Globemax Technology India Private Limited, underwent a change of name and was thereafter known as Futuretimes Technology India Private Limited. The said change of name was duly recorded and reflected in the records maintained by the office of the Registrar of Companies.

c) Subsequent to the aforesaid change, the Corporate Debtor and the Operational Creditor entered into an Addendum dated 23.01.2020 ("Addendum 2") to the Principal Agreement, thereby incorporating 'Express Service' as an additional scope of service to be rendered by the Operational Creditor.

d) That the Corporate Debtor had been irregular and inconsistent in making payments towards the services rendered. Notwithstanding the aforesaid, and in view of the long-standing business relationship between the parties, the Operational Creditor continued to provide services to the Corporate Debtor in good faith. In the ordinary course of business, the Operational Creditor raised multiple invoices from time to time, against which the Corporate Debtor made part-payments on certain occasions.

e) The last