# In the matter of Brightsun Technocraft Pvt. Ltd. IB-1198-(ND)-2019

> NCLT judgment dated 2020-02-07. Citation: TCN-2020-NCLT-02045. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 7 Feb 2020
- **Citation:** TCN-2020-NCLT-02045
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/brightsun-technocraft-pvt-ltd-ib-1198-nd-2019-a020f9cf

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by B.P. Agency (Delhi), the Operational Creditor, against Brightsun Technocraft Pvt. Ltd, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor failed to pay an amount of Rs. 14,90,683/- along with interest at 24% per annum for the supply of paper boards and specialty paper. The Corporate Debtor contested the claim, citing discrepancies in addresses, wet/damaged material, and a 5.5% cash discount agreement.

## Facts

B.P. Agency (Delhi), the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Brightsun Technocraft Pvt. Ltd, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that it supplied paper boards and specialty paper to the Corporate Debtor, evidenced by invoices dated 31.05.2017, 31.08.2017, 22.09.2017, 10.10.2017, and 10.11.2017. The Operational Creditor raised a demand for Rs. 14,90,683/- along with 24% interest per annum from 01.12.2017 to 30.01.2019. The Corporate Debtor allegedly communicated on 04.07.2016 that the supplied material was wet/damaged to the extent of Rs. 8,47,886/- and requested the Operational Creditor to take back

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## Issues and analysis

### Issue 1: Whether there exists a …

**Ratio:** A genuine pre-existing dispute must be based on a bona fide and plausible claim, not a

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**Reasoning:** The court found that the Corporate Debtor's claim of a pre-existing dispute was not

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**Interpretation:** The existence of a genuine pre-existing dispute is a bar to the admission of an

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**Application:** In this case, the court found that the Corporate Debtor's claim of a

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## Parties

- **Judges:** CH. MOHD SHARIEF…; SMT SAROJ R…
- **Respondents:** Brightsun…

## Timeline

- **2016-04-07 — Communication from…**: Corporate Debtor communicated that the…
- **2016-06-10 — Invoice…**: Invoice raised on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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