# In the matter of Chairpertech Electronics Private Limited C.P. (IB) 3057-2018

> NCLT judgment dated 2020-02-14. Citation: TCN-2020-NCLT-01933. Future Electronics Inc. (Distribution) Pte. Ltd. filed a Company Petition under Section 9 of…

- **Court:** NCLT
- **Order date:** 14 Feb 2020
- **Citation:** TCN-2020-NCLT-01933
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/chairpertech-electronics-private-limited-cp-ib-3057-2018-20336c1f

## Summary

### Background

Future Electronics Inc. (Distribution) Pte. Ltd. filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Chaipertech Electronics Private Limited, alleging default in payment. The Operational Creditor claimed that the Corporate Debtor failed to pay an amount of Rs. 2,17,95,594.40 towards the purchase price of products supplied.

## Facts

Future Electronics Inc. (Distribution) Pte. Ltd., an Operational Creditor based in Singapore, filed a petition against Chaipertech Electronics Private Limited, a Corporate Debtor, under Section 9 of the IBC, 2016. The Operational Creditor claimed a default of Rs. 2,17,95,594.40. The Corporate Debtor argued that the Operational Creditor supplied materials without purchase orders, dumped goods, and that the quality of the material was unresolved. The Corporate Debtor also claimed that the Operational Creditor had manipulated documents. The Operational Creditor argued that the Corporate Debtor had admitted to the debt in various e-mails and had not raised any disputes before the demand notice. The Corporate Debtor paid custom duty on the allegedly dumped goods. The ledger

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor is in compliance with the provisions of …

**Ratio:** The Adjudicating Authority must be satisfied that the application is complete and that

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**Reasoning:** The court found that the Operational Creditor's application was in compliance with the

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**Interpretation:** Section 8 & 9 of the IBC lay down the procedure for initiation of CIRP by

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**Application:** The court applied the provisions of Section 8 & 9 of the IBC to the facts

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## Parties

- **Judges:** Bhaskara Pantula…; Shyam Babu…
- **Appellants:** Future Electronics…
- **Respondents:** Chairpertech…; S.R. Jar…
- **Advocates:** Prathamesh…; Keanan Nagp…; +2 more

## Timeline

- **2016-04-01 — Purchase Order…**: Corporate Debtor approached Operational Creditor around April 2016 and placed purchase…
- **2017-11-13 — Legal Notice by…**: Corporate Debtor sent a legal notice to the Operational Creditor stating that certain…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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