# In the matter of A.N. GASLINES PROJECTS PRIVATE LIMITED

> NCLT judgment dated 26 May 2025. Citation: TCN-2025-NCLT-00045. The present application was filed by M/s Krita Engineering Private Limited (Operational…

- **Court:** NCLT
- **Order date:** 26 May 2025
- **Citation:** TCN-2025-NCLT-00045
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/an-gaslines-projects-private-limited-34bb2511

## Summary

### Background

The present application was filed by M/s Krita Engineering Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s A.N. Gaslines Projects Private Limited (Corporate Debtor). The Operational Creditor claimed a total outstanding operational debt of Rs. 2,53,79,019/- due to the Corporate Debtor's failure to pay. The first date of default was declared as October 17, 2018, with subsequent defaults on January 17, 2019, and February 11, 2019, as per a supplementary affidavit filed in compliance with an order dated October 8, 2024.

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## Facts

M/s Krita Engineering Private Limited (Operational Creditor) filed an application on February 9, 2021, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s A.N. Gaslines Projects Private Limited (Corporate Debtor). The application sought to recover an outstanding operational debt of Rs. 2,53,79,019/-. The first date of default was declared as October 17, 2018, with subsequent defaults on January 17, 2019, and February 11, 2019, as per a supplementary affidavit filed on October 8, 2024.

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## Issues and analysis

### Issue 1: Whether there is a valid debt and default…

**Ratio:** A legally enforceable operational debt exists when invoices for services rendered are…

**Reasoning:** The Tribunal found that the Operational Creditor had raised five invoices totaling Rs.…

**Interpretation:** The court interpreted 'debt' and 'default' broadly, encompassing not only the…

**Application:** In this case, the Operational Creditor completed the work, raised invoices, and…

## Parties

- **Judges:** Praveen…; Ashish…
- **Advocates:** For the Operationa…; Advs. For the…

## Timeline

- **June 21, 2018 — Work Order…**: Corporate Debtor issued a Work Order to the…
- **October 28, 2018 — Work Comp…**: Operational Creditor successfully completed…

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