# In the matter of Claro Energy Private Limited Company Petition No. (IB)-2992(ND)-2019

> NCLT judgment dated 2021-04-13. Citation: TCN-2021-NCLT-02394. Natraj Proteins Limited, an operational creditor, filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 13 Apr 2021
- **Citation:** TCN-2021-NCLT-02394
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/claro-energy-private-limited-company-petition-no-ib-2992nd-2019-618b98b5

## Summary

### Background

Natraj Proteins Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Claro Energy Private Limited, the corporate debtor. The application was based on the corporate debtor's alleged default in payment for the supply of Solar Photovoltaic Pump Sets. Natraj Proteins claimed that despite supplying the goods and raising invoices, Claro Energy failed to make the full payment, leaving a significant amount outstanding. Claro Energy, in its defense, contended that there was a dispute regarding the invoices raised by Natraj Proteins and that payments were contingent upon receiving funds from their end customer, Madhya Pradesh Urja Vikas Nigam

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## Facts

Natraj Proteins Limited (Operational Creditor) supplied Solar Photovoltaic Pump Sets to Claro Energy Private Limited (Corporate Debtor) based on orders placed by the latter. Invoices were raised for the supplies made between 06.12.2019 and 17.08.2018, totaling Rs. 10,75,23,923/-. Natraj Proteins claimed that Claro Energy was irregular in making payments. Claro Energy paid Rs. 10,11,14,426/- on 31.07.2019, leaving an outstanding amount of Rs. 63,32,941/- plus interest. Natraj Proteins issued a Demand Notice dated 12.09.2019 under Section 8 of the IBC, 2016, for the outstanding amount. Claro Energy replied to the demand notice, admitting a liability of Rs. 22,17,175/- but claimed that Natraj Proteins had incorrectly raised invoices worth Rs. 24,49,910/-. They also stated

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## Issues and analysis

### Issue 1: Whether the application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 is …

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

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**Reasoning:** The NCLT found that the application was complete, the operational debt existed, and the

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** The NCLT determined that the application met the requirements of Section 9,

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## Parties

- **Judges:** DEEPTI M…; SUMITAPURKA…
- **Appellants:** NATRAJ PROTEINS…
- **Respondents:** Claro Energy…
- **Advocates:** Rahul P…; Indranil…

## Timeline

- **2018-08-17 — Date of D…**: The date of default as…
- **2019-07-31 — Partial Payment by…**: The corporate debtor…

## 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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