# In the matter of Techtran Polylenses Limited CP (IB) No. 08-9-HDB-2019

> NCLT judgment dated 2019-04-22. Citation: TCN-2019-NCLT-03789. The case involves a Company Petition filed by Mitsui Chemicals India Private Limited…

- **Court:** NCLT
- **Order date:** 22 Apr 2019
- **Citation:** TCN-2019-NCLT-03789
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/techtran-polylenses-limited-cp-ib-no-08-9-hdb-2019-1832c35d

## Summary

### Background

The case involves a Company Petition filed by Mitsui Chemicals India Private Limited (Operational Creditor) against Techtran Polyenses Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied goods. The Operational Creditor supplied 'Sunsensors Grey' to the Corporate Debtor in June 2015 and January 2016, raising two invoices. Despite payments made by the Corporate Debtor, a significant amount remained outstanding. The Corporate Debtor also issued post-dated cheques that were dishonored.

## Facts

Mitsui Chemicals India Private Limited (Operational Creditor) filed a Company Petition against Techtran Polyenses Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to unpaid dues for goods supplied. The Operational Creditor supplied 'Sunsensors Grey' to the Corporate Debtor in June 2015 and January 2016, raising invoices for Rs. 49,18,760/- and Rs. 22,56,851/-, respectively, totaling Rs. 71,75,611/-. The Corporate Debtor made payments totaling Rs. 30,00,000/- between April and June 2016, leaving an outstanding amount of Rs. 41,75,611/-. The Corporate Debtor issued four post-dated cheques totaling Rs. 41,00,000/-, which were dishonored. The Operational Creditor sent a demand notice under Section 8 of the Code on 24.10.2018,

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## Issues and analysis

### Issue 1: Whether the Petitioner/Operational Creditor has proved that a default has occurred for which the …

**Ratio:** The legal principle applied is that if the Operational Creditor provides documentary

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**Reasoning:** The Adjudicating Authority, after hearing the submissions of the counsel for the

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**Interpretation:** This means that the court interpreted the evidence presented by the Operational

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**Application:** The Operational Creditor provided invoices, payment records, and dishonored

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## Parties

- **Judges:** K. Anantha…
- **Appellants:** Mitsui Chemicals…
- **Respondents:** Techtran Polyenses…; Techtran Polyenses…

## Timeline

- **2015-06-13 — Invoice…**: Invoice No. 93 issued…
- **2016-01-27 — Invoice…**: Invoice No. 345 issued…

## 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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