# In the matter of Trako Infra (India) Private Limited CP(IB) No. 1737-MB-C-IV-2019

> NCLT judgment dated 2019-12-12. Citation: TCN-2019-NCLT-00211. Pentax Ferro Incorporate, the Operational Creditor, filed a Company Petition under Section 9 of…

- **Court:** NCLT
- **Order date:** 12 Dec 2019
- **Citation:** TCN-2019-NCLT-00211
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/trako-infra-india-private-limited-cpib-no-1737-mb-c-iv-2019-e18fb825

## Summary

### Background

Pentax Ferro Incorporate, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Trako Infra (India) Private Limited, the Corporate Debtor, for failing to make payment of Rs. 3,31,580/-. The Corporate Debtor is a private company incorporated on 09.07.2016. The Operational Creditor supplied products to the Corporate Debtor as per Purchase Order No. TIPL/17-18/Ele/106-R1 dated 31.08.2017 and raised an invoice dated 22.09.2017 for Rs.3,31,580/-. The Corporate Debtor issued a cheque for Rs.33,158/- which was dishonored due to insufficient funds. Another cheque for Rs.3,31,580/- was also dishonored. The Operational Creditor sent a legal

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## Facts

Pentax Ferro Incorporate, an operational creditor, claimed that Trako Infra (India) Private Limited, the corporate debtor, defaulted on a payment of Rs. 3,31,580/-. The debt arose from the supply of goods, including Hot-Dip Galvanised Gratings, Stair Treads, and Trench Covers, as per Purchase Order No. TIPL/17-18/Ele/106-R1 dated 31.08.2017. An invoice was raised on 22.09.2017. The corporate debtor issued two cheques, one for Rs. 33,158/- and another for Rs. 3,31,580/-, both of which were dishonored due to insufficient funds. The operational creditor issued a legal notice on 29.11.2017 and a demand notice on 20.12.2018. The corporate debtor did not respond to the demand notice. The operational creditor filed an affidavit stating that there was no notice of dispute

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## Issues and analysis

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

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016 read with rule 6(1) of the

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**Reasoning:** The Adjudicating Authority found that the petition made by the Operational Creditor was

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**Interpretation:** The legal issue pertains to whether the Operational Creditor has fulfilled all

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**Application:** The Adjudicating Authority, after reviewing the petition, determined that all

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Pentax Ferro…
- **Respondents:** Trako Infra…
- **Advocates:** Mansha B…

## Timeline

- **2016-07-09 — Incorporation of…**: Trako Infra (India) Private Limited…
- **2017-08-31 — Purchase…**: Purchase Order No. TIPL/17-18/Ele/106…

## 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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