# In the matter of APS Hydro Private Limited Company Petition No. (IB)-44(PB)-2021

> NCLT judgment dated 2021-05-03. Citation: TCN-2021-NCLT-02221. The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 3 May 2021
- **Citation:** TCN-2021-NCLT-02221
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aps-hydro-private-limited-company-petition-no-ib-44pb-2021-5d9c0f0d

## Summary

### Background

The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Fateh Bahadur Singh, Proprietor of Maa Sharda Traders (Operational Creditor), against M/s APS Hydro Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly failed to liquidate outstanding dues to the Operational Creditor. The Corporate Debtor had placed a work order dated 2018-05-01 to the Petitioner for the supply of WMM & Aggregated for the project, Development and Operation of Raebareli Ring Road in the State of Uttar Pradesh. The petitioner executed its obligation, but the corporate debtor did not release the payment to the petitioner. The petitioner had raised the Bills as per the

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## Facts

Fateh Bahadur Singh, proprietor of Maa Sharda Traders, is the Operational Creditor. M/s APS Hydro Private Limited is the Corporate Debtor. The Corporate Debtor placed a work order dated 2018-05-01 for the supply of WMM & Aggregated for the project, Development and Operation of Raebareli Ring Road in the State of Uttar Pradesh. The Operational Creditor executed its obligation, but the Corporate Debtor did not release the payment. The Corporate Debtor is indebted to the petitioner for the principal amount of Rs. 62,75,848/- along with interest @ 24% p.a. upto 2020-02-15 of Rs. 15,10,330/-, having the total sum of debt amount of Rs. 77,86,178/-. The petitioner sent a demand notice dated 2020-02-15 under section 8 of the I & B Code, 2016. The claim amount in the

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## Issues and analysis

### Issue 1: Whether the petition meets the threshold limit for default as per the notification dated 2020-03-24 …

**Ratio:** The notification dated 2020-03-24 issued by the Central Government enhanced the minimum

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**Reasoning:** The court reasoned that the petition was filed after the threshold limit had been

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**Interpretation:** The interpretation of Section 4 of the I&B Code, along with the

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

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## Parties

- **Judges:** B.S.V. Prakash…; HEMANT KUMAR…
- **Appellants:** Fateh Bahadur…
- **Respondents:** APS Hydro Private…; M/s. APS Hydro…

## Timeline

- **2018-05-01 — Work Orde…**: Corporate Debtor placed a work order to the…
- **2020-02-15 — Demand Noti…**: Petitioner sent a demand notice under…

## 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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