# In the matter of Logix Infratech Private Limited Company Petition (IB) No. 882-ND-2022

> Read the full IBC case summary for In the matter of Logix Infratech Private Limited Company Petition (IB) No. 882-ND-2022. NCLT judgment dated 2022-06-03.…

- **Court:** NCLT
- **Order date:** 3 Jun 2022
- **Citation:** TCN-2022-NCLT-04697
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/logix-infratech-private-limited-company-petition-ib-no-882-nd-2022-0adfe584

## Summary

### Background

The operational creditor filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to an alleged default in payment of operational debt arising from a settlement agreement.

## Facts

M/s Ahluwalia Contracts (India) Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Logix Infratech Private Limited, the corporate debtor. The operational creditor is a construction company, and the corporate debtor is engaged in real estate development, specifically a project named 'Blossom Greens' in Noida.

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## Issues and analysis

### Issue 1: Whether the claim arising from a breach of a settlement agreement constitutes an 'Operational Debt'…

**Ratio:** A default in payment arising from a settlement agreement does not fall under the…

**Reasoning:** The NCLT referred to the definition of 'Operational Debt' in Section 5(21) of the IBC,…

**Interpretation:** The court interpreted Section 5(21) narrowly, emphasizing that 'Operational…

**Application:** Applying this interpretation, the NCLT concluded that the operational…

## Parties

- **Judges:** ABNI RANJAN KUMAR…; HEMANT KUMAR…
- **Advocates:** For the Applicant:…; For the Respondent…

## Timeline

- **September 6, 2010 — Letter of Inte…**: Corporate Debtor awarded work to Operational…
- **December 31, 2010 — Main Contract…**: Agreement bearing no. M880314 was executed between the Operational Creditor and the…

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