# In the matter of BCC Infrastructure Pvt. Ltd. CP (IB) No. 317-ND-2017

> NCLT judgment dated 2018-03-16. Citation: TCN-2018-NCLT-01702. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 16 Mar 2018
- **Citation:** TCN-2018-NCLT-01702
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bcc-infrastructure-pvt-ltd-cp-ib-no-317-nd-2017-96779db2

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, by Acquisory Consulting LLP, an Operational Creditor, against BCC Infrastructure Pvt. Ltd., the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an operational debt of Rs. 5.75 crores, arising from services provided in raising funds for the Corporate Debtor. The Corporate Debtor contested the claim, arguing that the Operational Creditor did not provide the services, and that the debt was not an operational debt as contemplated under the IBC. The Corporate Debtor also raised objections regarding the validity of the demand notices issued by the Operational Creditor.

## Facts

Acquisory Consulting LLP (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against BCC Infrastructure Pvt. Ltd. (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an operational debt of Rs. 5.75 crores, arising from services provided in raising funds of Rs. 250 crores for the Corporate Debtor from Edelweiss/ECL Finance Ltd. The Operational Creditor stated that a success fee equal to 2% of the transaction (Rs. 250 crores) was payable at the time of disbursement of the loan. The Corporate Debtor argued that the services were provided by Edelweiss Securities Ltd., not the Operational Creditor. The Corporate Debtor also contended that the demand notices

…

## Issues and analysis

### Issue 1: Whether the Operational Creditor …

**Ratio:** The burden of proof lies on the Operational Creditor to establish that they provided

…

**Reasoning:** The court considered the arguments and evidence presented by both parties. The Corporate

…

**Interpretation:** The court interpreted the term 'operational debt' under the IBC, 2016, and

…

**Application:** The court applied the ratio to the facts of the case, considering the

…

## Parties

- **Judges:** R. VARADH…
- **Appellants:** Acquisory…
- **Respondents:** BCC Infrastructure…

## Timeline

- **2010-03-04 — Agreement wi…**: Corporate Debtor entered into an agreement…
- **2010-02-04 — Share Subscription…**: Share subscription-cum-shareholder…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8(1) — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/bcc-infrastructure-pvt-ltd-cp-ib-no-317-nd-2017-96779db2