# In the matter of Aster Building Solutions Pvt. Ltd. CP (IB) No.37-9-HDB-2018

> NCLT judgment dated 2018-03-23. Citation: TCN-2018-NCLT-01648. The case involves a petition filed by M/s Harindera Cargo Carriers Pvt. Ltd (Operational…

- **Court:** NCLT
- **Order date:** 23 Mar 2018
- **Citation:** TCN-2018-NCLT-01648
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aster-building-solutions-pvt-ltd-cp-ib-no37-9-hdb-2018-bfbe3178

## Summary

### Background

The case involves a petition filed by M/s Harindera Cargo Carriers Pvt. Ltd (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Aster Building Solutions Private Ltd (Corporate Debtor). The Operational Creditor provided transportation services to the Corporate Debtor, and despite repeated reminders, the Corporate Debtor failed to pay the outstanding amount for the services rendered.

## Facts

M/s Harindera Cargo Carriers Pvt. Ltd (Operational Creditor) filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Aster Building Solutions Pvt. Ltd (Corporate Debtor). The Operational Creditor transported goods for the Corporate Debtor based on an understanding between the parties. The Operational Creditor sent an enquiry letter via email to confirm the rates, and after the rates were agreed upon, invoices were raised with consignment notes indicating receipt of the material. While the standard credit term was 15 days, the Operational Creditor allowed 90 days due to a longstanding relationship. However, the Corporate Debtor failed to pay the outstanding amount for invoices raised during the financial year 2016-17. The

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor committed a default in terms of Section 9 of the Insolvency and …

**Ratio:** Section 9 of the IBC, 2016 allows an operational creditor to initiate CIRP against a

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**Reasoning:** The court considered the documents filed by the Operational Creditor, including invoices,

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**Interpretation:** Section 9 of the IBC is interpreted to mean that if an operational creditor can

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**Application:** In this case, the Operational Creditor provided sufficient evidence to

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## Parties

- **Judges:** Rajeswara Rao…
- **Appellants:** M/s Harindera…
- **Respondents:** Aster Building…
- **Advocates:** SiriPreethiDuggira…; A. Sandhy…

## Timeline

- **2016-11-27 — Interest Calculation…**: Interest on the outstanding amount…
- **2017-09-27 — Interest Calcul…**: Interest on the outstanding…

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