# In the matter of Gufic Biosciences Limited CP (IB) 1497-MB-C-IV-2019

> NCLT judgment dated 2019-10-22. Citation: TCN-2019-NCLT-00854. The case involves a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 22 Oct 2019
- **Citation:** TCN-2019-NCLT-00854
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/gufic-biosciences-limited-cp-ib-1497-mb-c-iv-2019-8f9c74b2

## Summary

### Background

The case involves a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Scorpion Express Private Limited (Operational Creditor) against Gufic Bioscience Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for transportation services provided. The Corporate Debtor disputed the claim, alleging inflated invoices and connivance between the Operational Creditor and its employees.

## Facts

Scorpion Express Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Gufic Bioscience Limited (Corporate Debtor) for unpaid dues related to transportation services. The Corporate Debtor allegedly defaulted on a sum of Rs. 44,93,572.29 as principal and Rs. 4,85,528.87 as interest as of 08.01.2018, totaling Rs.49,79,101.16. The Operational Creditor served a demand notice on 09.12.2018, which was received by the Corporate Debtor on 26.12.2018. The Corporate Debtor replied on 13.02.2019, disputing the invoices as inflated and alleging connivance with its employees. Agreements for transportation services were in place from July 2015 to June 2016. The Corporate Debtor filed a complaint with the

…

## Issues and analysis

### Issue 1: Whether the application made by the Operational Creditor is complete in all respects as required by …

**Ratio:** The application made by the Operational Creditor must be complete in all respects as

…

**Reasoning:** The Adjudicating Authority found that the application was complete in all respects as

…

**Interpretation:** The completeness of the application is a prerequisite for its admission under

…

**Application:** The application was deemed complete, satisfying the legal requirement for

…

## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Scorpion Express…
- **Respondents:** Gufic Bioscience…

## Timeline

- **1984-07-23 — Incorporation of…**: Gufic Bioscience Limited…
- **2015-07-01 — Agreements for…**: Corporate Debtor entered into various agreements during July 2015 to June 2016 for…

## 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)

---

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/gufic-biosciences-limited-cp-ib-1497-mb-c-iv-2019-8f9c74b2