# Powertech Engineers vs. GEPDEC Infratech Limited

> NCLT judgment dated 2026-09-17. Citation: TCN-2026-NCLT-01022. M/s Powertech Engineers (Operational Creditor/Applicant) filed an application under Section 9…

- **Court:** NCLT
- **Order date:** 17 Sept 2026
- **Citation:** TCN-2026-NCLT-01022
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/powertech-engineers-vs-gepdec-infratech-limited-jmf1f

## Summary

### Background

M/s Powertech Engineers (Operational Creditor/Applicant) filed an application under Section 9 of the IBC against M/s GEPDEC Infratech Limited (Corporate Debtor/Respondent) to initiate CIRP due to an unpaid operational debt of Rs. 16,68,93,304.94. The Corporate Debtor disputed the claim, asserting that the parties were joint venture partners and the transactions were internal arrangements, not operational debt.

## Facts

M/s Powertech Engineers (Operational Creditor/Applicant) filed an application under Section 9 of the IBC against M/s GEPDEC Infratech Limited (Corporate Debtor/Respondent).

The application sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.

The total outstanding debt claimed was Rs. 16,68,93,304.94 (Principal Amount) plus interest.

The initial date of default was 30.11.2018, with subsequent defaults until 15.09.2019.

The Operational Creditor and Corporate Debtor entered into a joint venture agreement on 17.10.2025 for the construction of a 220/33KV GIS Grid Sub-Station.

U.P. Rajkiya Nirman Limited (URNL) issued a Letter of Award dated 12.03.2016 for the said project.

…

## Issues and analysis

### Issue 1: Whether the present petition is …

**Ratio:** An operational debt can arise from the supply of goods or services even within a joint

…

**Reasoning:** The Letter of Intent (LoI) dated 20.09.2016, along with its amendments, specifically

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**Interpretation:** Section 5(21) of the IBC defines "operational debt" as a claim in

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**Application:** Despite the existing joint venture, the specific obligations for equipment

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## Parties

- **Judges:** Sh. Praveen Gupta…; Sh. Ashish Verma…
- **Appellants:** Powertech…; M/s Powertech…
- **Respondents:** GEPDEC Infratech…
- **Other parties:** CoC…; Suspended Board…; +2 more
- **Advocates:** Sh. Annand…; Sh. Anuj…; +8 more

## Timeline

- **2016-03-12 — Letter of Awar…**: U.P. Rajkiya Nirman Limited (URNL) issued a Letter of Award for the construction of…
- **2016-05-02 — Addendum to Joint…**: Corporate Debtor/Respondent and Operational Creditor/Applicant entered into an "addendum…

## 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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