# In the matter of Premium Mouldings and Pressing Pvt. Ltd. Vs. Yusen Logistic (India) Pvt. Ltd. & Anr. CA (AT) No. 441-2018

> NCLAT judgment dated 2018-08-09. Citation: TCN-2018-NCLAT-00155. The appeal was filed against the order dated July 24, 2018, passed by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 9 Aug 2018
- **Citation:** TCN-2018-NCLAT-00155
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/premium-mouldings-and-pressing-pvt-ltd-vs-yusen-logistic-a6f62df9

## Summary

### Background

The appeal was filed against the order dated July 24, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, in C.P. No. IB-591(ND)/2018. The Adjudicating Authority had admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by the Respondent – Yusen Logistic (India) Pvt. Ltd., passed an order of moratorium, and appointed an Interim Resolution Professional.

## Facts

Premium Mouldings and Pressing Pvt. Ltd. (Appellant) filed an appeal against Yusen Logistic (India) Pvt. Ltd. & Anr. (Respondents). The appeal contested an order by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, which had admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Yusen Logistic. The Appellant argued that a dispute existed because Yusen Logistic had not released Export Promotion Capital Goods Scheme related documents, which were contingent upon payment. The Appellant also claimed that the dispute had been settled, with Rs. 50 Lakhs paid to Yusen Logistic. Yusen Logistic acknowledged receiving the payment but did not dispute the non-delivery of the documents. The NCLAT found that a

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's order admitting the application under Section 9 of the …

**Ratio:** An application under Section 9 of the Insolvency and Bankruptcy Code, 2016, is not

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**Reasoning:** The court reasoned that the Appellant had demonstrated the existence of a dispute

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**Interpretation:** The interpretation of Section 9 of the Insolvency and Bankruptcy Code, 2016,

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**Application:** In this case, the existence of a dispute regarding the release of documents,

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Premium Mouldings…
- **Respondents:** Yusen Logistic…

## Timeline

- **2018-07-24 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, passed an…
- **2018-08-04 — Payment by Ap…**: The Appellant paid Rs. 50 Lakhs towards outstanding dues to Yusen Logistics India Private…

## 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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