# In the matter of P.G. Micro Systems Private Limited Company Petition no. (IB)- 831 (ND)-2019

> NCLT judgment dated 2019-07-19. Citation: TCN-2019-NCLT-02440. This case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 19 Jul 2019
- **Citation:** TCN-2019-NCLT-02440
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pg-micro-systems-private-limited-company-petition-no-ib-831-nd-2019-20ec7c4c

## Summary

### Background

This case involves an application filed 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, seeking the initiation of the Corporate Insolvency Resolution Process (CIRP) against the respondent, P.G. Micro Systems Private Limited. The operational creditor, Softtech Computers Delhi Limited, claimed that the corporate debtor owed them Rs. 28,40,966/- for goods (laptops and desktops of Dell) supplied as per their arrangement. The corporate debtor allegedly issued a cheque for Rs. 28,00,092/- which was later dishonored due to 'payment stopped by drawer'. A demand notice was issued under Section 8 of the IBC, but the corporate debtor disputed the debt, alleging

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## Facts

Softtech Computers Delhi Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against P.G. Micro Systems Private Limited (Corporate Debtor) for a default of Rs. 28,40,966/-. The debt arose from the supply of laptops and desktops of Dell to the Corporate Debtor. Invoices were raised for the goods supplied between 02.04.2015 and 25.12.2015. The Corporate Debtor issued a cheque dated 31.03.2016 for Rs. 28,00,092/- which was dishonored due to 'payment stopped by drawer'. The Operational Creditor issued a demand notice dated 05.11.2018 under Section 8 of the IBC. The Corporate Debtor claimed that there was a pending dispute under Section 138 of the Negotiable Instruments Act, 1881, and alleged misuse of the cheque. The

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## Issues and analysis

### Issue 1: Whether the pendency of proceedings under Section 138 of the Negotiable Instruments Act, 1881, …

**Ratio:** The pendency of a case under Section 138/141 of the Negotiable Instruments Act, 1881,

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**Reasoning:** The NCLT relied on the judgment of the Appellate Tribunal in Sudhi Sachdeva Vs. APPL

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**Interpretation:** The interpretation is that the IBC aims to provide a swift resolution mechanism

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**Application:** In this case, the Corporate Debtor argued that the pending Section 138

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## Parties

- **Judges:** M. M. K…; Deepa Kr…; +1 more
- **Appellants:** SOFTTECH COMPUTERS…
- **Respondents:** P.G MICRO SYSTEMS…
- **Advocates:** Varun T…; Subhojoy Ba…

## Timeline

- **2015-04-02 — Goods Supplied and…**: Goods were supplied and invoices were…
- **2016-03-31 — Cheque I…**: The Corporate Debtor issued a cheque bearing number 052334 dated 31.03.2016 amounting to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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