KAYMAN Records Management is an ISO 9001:2015 Certified Records Management Company
Documenting Peace of Mind

Benefits Of storing Files in
KAYMAN Records Storage Facility

  Door Step Pickup & Delivery of Files
  Scientific Indexing of Records
  Quick Retrieval of Documents
  Secure Scanning & Digitization

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Why should you not delay Records Management?

  • Companies - Big or small - Records retention is must by Law, Compliance & Statutory purposes
  • Value is immaterial - availability is a must
  • Disaster need not be abrupt, could be simmering for some time now
  • Lower than your current expenses / Return on Investment is High

Why Choose KAYMAN Records Management Services?

  • Customised Records Management Solution to suit your Business
  • Track and manage the entire life cycle of your records
  • Strict adherence to Safety, Security & Accessibility
  • Process Excellence, Scientific and systematic approach
  • Documenting peace of mind

What is the cost of storing Records?

The cost of storing records depends on the following factors.

  • Count of Boxes
  • Type of indexing
  • Process Performed
  • Digitisation, etc

However, at KAYMAN we provide Free survey and Budgetary Estimate The final cost can only be calculated after a survey of records.

Records Management Services We Offer

KAYMAN is one of the leading Records Management Companies in Chennai that offer holistic records management services.

Records and Documents Storage Services

  • Store your records at our secure offsite document storage facility.
  • Retrieve physical records on-demand
  • Retain records as long as needed by regulatory compliances
  • Pay only for what you store
  • Scale your business records storage to any extent

Records Digitization & Scanning Services

  • Go paperless with records digitization services
  • Extend the life of physical records with document scanning services
  • Turn business records, documents & images into searchable records
  • Streamline documents for easy retrieval and distribution
  • Meet compliance and ensure business continuity

Document Shredding Services

The cost of storing records depends on the following factors.

  • Maintain clean workspaces with shredding services
  • Securely dispose off records at our records storage facility
  • Prevent manipulation of historical records
  • Make use of our Industrial-grade shredders
  • Get certificate of destruction for compliance records

What our customers are Saying?

KAYMAN is one of the few Document Storage Companies in Chennai that caters to multiple industry clients for various records management services.

We rely on KAYMAN records management for our records storage. They are professionals in the information management discipline.

Leading Packaging Company

Our huge pile of records is efficiently scanned and digitized with Kayman Records Digitization Services. Helps us very much to maintain clean offices.

General Manager
Leading Logistics Company

KAYMAN helps us with Medical Records Storage. Medical documents storage is critical for meeting compliance. We digitize our medical files as well.

Leading Healthcare Company


Monthly Basis - Your files are stored in standard sized Records Management boxes and the charges are based on the count of boxes that are stored.

A Records Management box can hold 4-5 Box files or 25 - 30 Flat files (File size does matter)

We provide Doorstep Pickup & Delivery of Files

No Security deposits. No Hidden charges. - Pay for what you use

Store, safe and securely at 1/3 of the cost of renting a Flat or an Apartment

Get A Free Survey And Budgetary Estimate

Home > Blog
 Kayman Vaults May 25, 2022

IBC Supreme Court Declares Noida As An Operational Creditor Under The Insolvency And Bankruptcy Code, 2016

Supreme Court in the case of New Okhla Industrial Development Authority versus Anand Sonbhadra held that the NOIDA is an operational creditor under the provisions of the Insolvency and Bankruptcy Code, 2016. (IBC/Code) The Bench comprising of Justice KM Joseph and Justice Hrishikesh Roy dismissed the appeal filed by NOIDA against the judgment of the National Company Law Appellate Tribunal (NCLAT) wherein NCLAT held that the NOIDA is an operational Creditor under IBC and cannot be considered as a Financial Creditor of the Corporate Debtor under the provisions of the Code. National Company Law Tribunal (NCLT), Bench IV, New Delhi while adjudicating an application filed by NOIDA held that the NOIDA is an operational creditor as there is no financial lease executed between NOIDA and the Corporate Debtor as per the Indian accounting standards and the same was affirmed by NCLAT vide order dated 16.04.2021 whereas the NCLT, Principal Bench, New Delhi in another case held that the NOIDA is a Financial Creditor and the order was stayed by NCLAT. NOIDA filed an appeal against both these orders passed by NCLAT and a question was framed by the Supreme Court as to "Whether the appellant is entitled to be treated as a financial creditor within the meaning of the IBC" Whether NOIDA Is A Financial Creditor Under Section 5(8)(D) Of IBC. NOIDA contended before the Supreme Court that the lease deed executed between the NOIDA and Corporate Debtor is a financial lease as per the Indian Accounting Standard and therefore by the virtue of Section 5(8)d) of IBC, NOIDA qualifies as a Financial Creditor. Section 5(8)(d) read as follows; "Section 5(8)(d)- "the amount of any liability in respect of any lease or hire purchase contract which is deemed as a finance or capital lease under the Indian Accounting Standards or such other accounting standards as may be prescribed;" The Supreme Court made a roving inquiry into the various rules of the Indian Accounting Standards which define the characteristics of a financial Lease. Supreme Court referred to Rule 63 of the IAS which states that a lease will be a financial lease if the term of the lease is for the major part of the economic life of the underlying assets, even if the title is not transferred. The Supreme Court held that the lease in question is for a period of ninety years and the principle of the economic life of the underlying asset which is the "land" is inapposite in the present case. "…The economic life of land is not limited. The principle in the said situation is predicated with reference to measuring the economic life of an asset. More importantly, it speaks of the major part of the economic life of the asset. Both these concepts are inapposite and even inapplicable with regard to land. Land does not depreciate with the passage of time. Ordinarily, the price of land would only increase, unlike other assets" The Supreme Court further held that; "…It may not be possible to hold that the lease is for the major part of the economic life of the land. It cannot be said that at the expiry of 90 years the land will cease to be economically usable. Therefore, we cannot accept the argument of the appellant that after 90 years appellant would not get the empty parcel of land and the land would not be of any commercial use to the appellant after the expiry of the lease." Thereafter, the Supreme Court examined the contention of NOIDA based on Rule 62 and 65 of IAS which states that a lease may be classified as a financial lease if it transfers substantially all the risks and rewards incidental to the ownership of the underlying asset and held that all rewards incidental to the ownership are not transferred to the lessee by NOIDA and thus the conditions of Rule 62 and 65 do not meet in the present scenario and therefore, NOIDA cannot be considered as a Financial Creditor under Section 5(8)(d) of IBC. However, Supreme Court made an interesting observation hinting toward a prospective amendment by the Central Government to classify NOIDA as a Financial Creditor and held that; "Therefore, we would find on the whole that the appellant is not the financial lessor under section 5(8)(d) of the IBC. No doubt we would observe that we have arrived at the findings based on the prevailing statutory regime. Needless to say, there is always power to amend the provisions which essentially consist of the Indian Accounting Standards in the absence of any rules prescribed under Section 5(8)(d) of the IBC by the Central Government" Source:

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