# In the matter of UNI Credit S.P.A. vs. IR Exports Private Limited

> NCLAT judgment dated 2024-07-03. Citation: TCN-2024-NCLAT-00345. This case involves an appeal against an order passed by the National Company Law Tribunal…

- **Court:** NCLAT
- **Order date:** 3 Jul 2024
- **Citation:** TCN-2024-NCLAT-00345
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/uni-credit-spa-vs-ir-exports-private-limited-a11799fe

## Summary

### Background

This case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), Chandigarh Bench, which dismissed an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The dispute originated from a sales contract between Durst Phototechnik (Supplier) and Hi Exports (Respondent) for the purchase of an industrial inkjet printer. The appellant, UniCredit S.P.A., is the assignee of the Supplier's rights. The NCLT dismissed the application based on the existence of a pre-existing dispute and issues with the service of the demand notice.

## Facts

On March 20, 2017, Hi Exports (Respondent) and Durst Phototechnik (Supplier) entered into a sales contract for an industrial inkjet printer. The agreed delivery date was April 15, 2017, but the machine arrived on August 28, 2017. Upon receiving the machine, the Respondent discovered performance issues. The Corporate Debtor made a down payment of Euro 135,780.00 and issued six promissory notes dated May 11, 2017, for Euro 421,000.00. The Supplier assigned its contractual obligations to UniCredit S.P.A. on August 23, 2017. The Corporate Debtor made a payment on December 20, 2017, for Euro 72,666.67 against a promissory note. The Operational Creditor issued a demand notice on May 19, 2021, under Section 8(1) of the IBC. The NCLT dismissed the application under Section 9

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## Issues and analysis

### Issue 1: Whether a pre-existing dispute existed between the parties before the demand notice was served, …

**Ratio:** The existence of a genuine pre-existing dispute between the parties bars the initiation

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**Reasoning:** The appellate tribunal reviewed the documented communication between the Respondent and

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**Interpretation:** The court interpreted the precedents set in Mobilox Innovative Private Limited

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**Application:** The court applied the ratio to the facts of the case, noting that the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** UNI CREDIT…
- **Respondents:** IR Exports…

## Timeline

- **2017-03-20 — Sales Con…**: Hi Exports (Respondent) and Durst Phototechnik (Supplier) entered into a sales contract…
- **2017-04-15 — Agreed Delive…**: The agreed delivery date for the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8(1) — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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