# In the matter of Jinprabhu Infrastructure Developments Limited CP(IB) No.375-KB-2018

> NCLT judgment dated 2018-04-06. Citation: TCN-2018-NCLT-01583. Light Speed Trade & Consultancy Private Limited, the Operational Creditor, filed an application…

- **Court:** NCLT
- **Order date:** 6 Apr 2018
- **Citation:** TCN-2018-NCLT-01583
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jinprabhu-infrastructure-developments-limited-cpib-no375-kb-2018-9135d00e

## Summary

### Background

Light Speed Trade & Consultancy Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against the Corporate Debtor, Jinprabhu Infrastructure Developments Limited, due to non-payment of Rs.9,65,000/- from the due date of 27.10.2017. The Corporate Debtor had approached the Operational Creditor to prepare a project report for proposed infrastructure developments. The Operational Creditor prepared and submitted the project report and raised an invoice on 27th October 2017. Despite reminders, the Corporate Debtor failed to pay the outstanding dues.

## Facts

Light Speed Trade & Consultancy Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Jinprabhu Infrastructure Developments Limited (Corporate Debtor). The Corporate Debtor approached the Operational Creditor to prepare a project report for proposed infrastructure developments. The Operational Creditor prepared and submitted the project report and raised an invoice for Rs.9,65,000/- on 27th October 2017. The Corporate Debtor acknowledged the invoice on 6th November 2017. Despite reminders, including a letter dated 15th December 2017, and a demand notice dated 8th January 2018, the Corporate Debtor failed to pay the outstanding dues. The Corporate Debtor acknowledged the demand notice on 20th

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## Issues and analysis

### Issue 1: Whether there is an 'operational …

**Ratio:** Section 4 of the Insolvency and Bankruptcy Code, 2016 defines operational debt and sets a

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**Reasoning:** The court determined that the debt of Rs.9,65,000/- claimed by the Operational Creditor

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**Interpretation:** The court interpreted Section 4 to mean that any debt meeting the definition of

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**Application:** The court applied this interpretation to the fact that the outstanding amount

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## Parties

- **Judges:** Jinan…; Madan B.…
- **Appellants:** Light Speed Trade…
- **Respondents:** Jinprabhu…

## Timeline

- **2017-10-27 — Invoice R…**: The Operational Creditor raised an invoice amounting to Rs.9,65,000/- for professional…
- **2017-11-06 — Acknowledgement of…**: 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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