# In the matter of Ducon Technologies (I) Pvt. Ltd. CP 1317-I&BP-NCLT-MAH-2017

> NCLT judgment dated 2017-11-02. Citation: TCN-2017-NCLT-00256. Elecon Engineering Company Ltd. filed a Company Petition under Section 9 of the Insolvency &…

- **Court:** NCLT
- **Order date:** 2 Nov 2017
- **Citation:** TCN-2017-NCLT-00256
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ducon-technologies-i-pvt-ltd-cp-1317-ibp-nclt-mah-2017-10bd3046

## Summary

### Background

Elecon Engineering Company Ltd. filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Ducon Technologies (I) Pvt. Ltd., alleging failure to pay ₹1,91,00,663, including interest. Elecon, as an operational creditor, claimed dues related to projects executed for Ducon, a contractor for Hindalco. The petition sought to initiate the Insolvency Resolution Process against Ducon.

## Facts

Elecon Engineering Company Ltd. (Operational Creditor) filed a petition against Ducon Technologies (I) Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, claiming a default of ₹1,91,00,663. Elecon executed two projects, Aditya and Mahan, for Ducon, which was a contractor for Hindalco. A Letter of Intent dated 2010-07-01 outlined the payment schedule for design, engineering, manufacturing, supply, structural work, supervision of erection, testing, and commissioning of a Pipe Conveyor System for an Aluminum Project for Hindalco Industries Ltd. Elecon claimed outstanding amounts including ₹79,84,271 for the Aditya Aluminum Project, ₹247,98,121 as interest on the Aditya project, ₹264,07,777 for the Mahan Aluminum Project, ₹36,76,233

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## Issues and analysis

### Issue 1: Whether the Company Petition is maintainable under Section 9 of the Insolvency & Bankruptcy …

**Ratio:** The maintainability of a petition under Section 9 of the IBC hinges on the existence of a

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**Reasoning:** The court reasoned that a pre-existing dispute existed between the parties, as evidenced

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**Interpretation:** Section 9 of the IBC requires the absence of a pre-existing dispute and the

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**Application:** The court applied the ratio to the facts by finding that the minutes of

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## Parties

- **Judges:** B.S.V. Prakash…; V. Nallasen…
- **Appellants:** Elecon Engineering…
- **Respondents:** Ducon Technologies…

## Timeline

- **2010-07-01 — Letter of Inte…**: Corporate Debtor issued a Letter of Intent to the Petitioner for Design, Engineering,…
- **2012-03-22 — Company Petiti…**: The Company Petition was filed to initiate Insolvency Resolution Process against the…

## 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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