In Brief
An operational creditor (seller of metallurgical coke) issued a demand notice under Section 8 of the Insolvency and Bankruptcy Code to initiate insolvency proceedings against a corporate debtor (steel company) for unpaid operational debt of Rs. 4.19 crores. The notice was served on the debtor's Key Managerial Personnel (KMP) at the registered office. The NCLT and NCLAT rejected the insolvency petition, holding the notice was invalid because it was not addressed to the corporate debtor itself. The Supreme Court allowed the appeal, holding that service on KMP in their official capacity at the registered office constitutes valid deemed service under Section 8. The Court emphasized that substantive rights should not be defeated on mere technicality and remanded the matter for final disposal on merits.
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