# In the matter of Holtec Asia Private Limited CP (IB) No. 369-MB-IV-2021

> Read the full IBC case summary for In the matter of Holtec Asia Private Limited CP (IB) No. 369-MB-IV-2021. NCLT judgment dated 2023-06-23. Citation:…

- **Court:** NCLT
- **Order date:** 23 Jun 2023
- **Citation:** TCN-2023-NCLT-05417
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/holtec-asia-private-limited-cp-ib-no-369-mb-iv-2021-ad721cc0

## Summary

### Background

The Operational Creditor filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against the Corporate Debtor for an unpaid operational debt.

## Facts

Ami Heavy Engineers Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) to initiate Corporate Insolvency Resolution Process (CIRP) against Holtec Asia Private Limited, the Corporate Debtor. The Operational Creditor claimed a debt of Rs. 19,07,796/- along with 18% interest per annum for goods supplied and invoices raised. The last invoice was dated March 19, 2019, and the date of default was also stated as March 19, 2019.

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## Issues and analysis

### Issue 1: Whether there was a pre-existing dispute between the Operational Creditor and the Corporate Debtor…

**Ratio:** An application under Section 9 of the I&B Code cannot be admitted if there is a…

**Reasoning:** The NCLT found a series of email communications from the Corporate Debtor to the…

**Interpretation:** The court interpreted 'dispute' broadly to include any communication from the…

**Application:** Given the Corporate Debtor's consistent communication of quality issues,…

## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Advocates:** For the Applicant(…; Rohit…; +2 more

## Timeline

- **July 4, 2018 — Purchase Orde…**: Corporate Debtor issued Purchase Order No. 20 to the Petitioner for fabrication and…
- **October 15, 2018 — Delivery De…**: Total quantity of goods was to be delivered on or before this date as per the purchase…

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