# In the matter of AKR Infrastructure Ltd. CP-1481-IB-20158

> NCLT judgment dated 2019-03-05. Citation: TCN-2019-NCLT-04596. The case involves a company petition filed by an operational creditor, Fast Track Consultants,…

- **Court:** NCLT
- **Order date:** 5 Mar 2019
- **Citation:** TCN-2019-NCLT-04596
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/akr-infrastructure-ltd-cp-1481-ib-20158-f468a230

## Summary

### Background

The case involves a company petition filed by an operational creditor, Fast Track Consultants, against AKR Infrastructure Ltd, the corporate debtor. The National Company Law Tribunal (NCLT) Chennai Division Bench was hearing the matter. The operational creditor was asked to provide material to support the admission of the company petition. The bench noted that the corporate debtor had not been filing annual returns since 2013 and had been shut down for the last five years.

## Facts

Fast Track Consultants filed a company petition against AKR Infrastructure Ltd. The NCLT Chennai Division Bench was hearing the case. The operational creditor, Fast Track Consultants, was asked to provide material to support the admission of the company petition. The NCLT noted that the only material on record was copies of invoices and a Section 8 notice, which appeared to have been hand-delivered. The operational creditor failed to demonstrate any other correspondence, such as postal or email communication. The NCLT also observed that AKR Infrastructure Ltd had not been filing annual returns since September 13, 2013, and had been shut down for the past five years. The corporate debtor did not raise any objections to the submissions made by the practicing Company

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## Issues and analysis

### Issue 1: Whether the operational creditor provided sufficient material to warrant the admission of the …

**Ratio:** An operational creditor must provide sufficient evidence to demonstrate the existence of

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**Reasoning:** The NCLT found that the operational creditor failed to provide sufficient evidence beyond

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**Interpretation:** The IBC requires operational creditors to provide substantial evidence to

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**Application:** In this case, the operational creditor's failure to provide sufficient evidence

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** FAST TRACK…
- **Respondents:** AKR INFRASTRUCTURE…

## Timeline

- **2013-09-13 — AKR Infrastructure stops…**: AKR Infrastructure Ltd stopped…
- **2019-02-18 — Previous…**: Bench asked the Operational Creditor side for the material that required to admit the…

## Legal provisions

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

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