# In the matter of Infra Industries Limited CP (IB) No. 1739-MB-C-IV-2019

> NCLT judgment dated 2019-12-12. Citation: TCN-2019-NCLT-00216. Ingenia FZE, an operational creditor, filed a company petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 12 Dec 2019
- **Citation:** TCN-2019-NCLT-00216
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/infra-industries-limited-cp-ib-no-1739-mb-c-iv-2019-6504a45f

## Summary

### Background

Ingenia FZE, an operational creditor, filed a company petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against Infra Industries Limited, the corporate debtor. The operational creditor claimed that the corporate debtor failed to make payment of USD 42,358, which included the principal amount and interest. The operational creditor had supplied petrochemical and polymer products to the corporate debtor as per a purchase order dated 28.06.2017. The date of default was stated to be 23.10.2017.

## Facts

Ingenia FZE (Operational Creditor) supplied petrochemical and polymer products to Infra Industries Limited (Corporate Debtor) as per Purchase Order No. Arav/RM/2017-18/0013 dated 28.06.2017 for USD 35,700. The Operational Creditor raised an invoice dated 12.07.2017, payable within ninety days from the bill of lading date. The Ocean Bill of Lading was dated 26.07.2017. The Corporate Debtor failed to make the payment within the stipulated time. The Operational Creditor sent emails to the Corporate Debtor reminding them of the maturity date and requesting payment arrangements. The Corporate Debtor sent emails acknowledging the debt and promising payment on various dates, including 18.11.2017, the next week after 17.11.2017, and on or before 15.12.2017 and by the end of

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## Issues and analysis

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

**Ratio:** The petition must comply with all the requirements of the Insolvency and Bankruptcy Code

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**Reasoning:** The Adjudicating Authority examined the petition and found it to be complete in all

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**Interpretation:** The IBC specifies the necessary documents and information that must be included

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**Application:** The Adjudicating Authority determined that the Operational Creditor's petition

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Ingenia…
- **Respondents:** Infra Industries…

## Timeline

- **2017-06-28 — Purchase…**: Purchase Order No. Arav/RM/2017-18/0…
- **2017-07-12 — Invoice…**: Invoice was raised by…

## 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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