# in the matter of Agrante Infra Ltd. IB No. (IB)-167 (ND)-2017

> NCLT judgment dated 2017-08-10. Citation: TCN-2017-NCLT-00642. Simplex Infrastructures Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 10 Aug 2017
- **Citation:** TCN-2017-NCLT-00642
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/agrante-infra-ltd-ib-no-ib-167-nd-2017-2550b101

## Summary

### Background

Simplex Infrastructures Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Agrante Infra Ltd. The petitioner, a Financial Creditor, had been awarded a work contract by the respondent/Corporate Debtor. The petitioner executed piling work at the respondent's project named 'Beethoven's 8' in Sector 107 Gurgaon. As per the work order, the Corporate Debtor was obligated to release 70% of the payment within 7 days of approval of the RA bill statement and the remaining 30% within 12 days. The Financial Creditor raised 8 running bills, but the Corporate Debtor defaulted on payments after the 4th bill. The Financial Creditor claimed an outstanding amount of Rs. 1,59,46,372/-. Despite reminders, the Corporate Debtor failed to liquidate its

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## Facts

Simplex Infrastructures Ltd. (Financial Creditor) was awarded a work contract by Agrante Infra Ltd. (Corporate Debtor) for a project named 'Beethoven's 8' in Gurgaon. The contract stipulated that the Corporate Debtor would pay 70% of the bill within 7 days of approval and the remaining 30% within 12 days. Simplex executed the work and raised 8 running bills. Agrante defaulted on payments after the 4th bill, leading to an outstanding amount of Rs. 1,59,46,372. Despite reminders, Agrante failed to pay. In a meeting on 09.12.2014, Agrante promised to pay Rs. 1.5 crores in installments, but only paid the first installment in January 2015. Simplex also raised an invoice of Rs. 61,76,541 for interest on delayed payments and non-deposit of Rs. 21.67 lakhs for WCT. Simplex

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## Issues and analysis

### Issue 1: Whether the proceedings have been …

**Ratio:** A company can authorize an employee to institute legal proceedings and sign and verify

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**Reasoning:** The petitioner filed a specific Board Resolution ratifying the acts of their duly

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**Interpretation:** The court considered the objection raised by the respondent regarding the

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**Application:** The petitioner addressed the objection by filing a specific Board Resolution,

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## Parties

- **Judges:** Ina Mal…; S. K. MOH…
- **Appellants:** M/s Simplex…
- **Respondents:** M/s Agrante Infra…

## Timeline

- **2014-09-22 — Reminders an…**: Financial Creditor sent reminders…
- **2014-10-29 — Reminders an…**: Financial Creditor sent reminders…

## 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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