# 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-00214. 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-00214
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/trako-infra-india-private-limited-cpib-no-1737-mb-c-iv-2019-e6b7ded1

## Summary

### Background

Pentax Ferro Incorporate, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Trako Infra (India) Private Limited, the Corporate Debtor, for failing to pay a sum of Rs. 3,31,580/-. The Corporate Debtor is a private company limited by shares and incorporated on 09.07.2016. The Operational Creditor supplied products to the Corporate Debtor as per a Purchase Order. The Corporate Debtor issued a cheque which was dishonored due to insufficient funds. The Operational Creditor sent a legal notice to the Corporate Debtor to pay the cheque amount, which was acknowledged. The Operational Creditor served a Demand Notice in Form 3 to the Corporate

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## Facts

Pentax Ferro Incorporate, the Operational Creditor, supplied goods to Trako Infra (India) Private Limited, the Corporate Debtor, as per Purchase Order No. TIPL/17-18/Ele/106-R1 dated 31.08.2017. The Operational Creditor raised invoice No.GST/50/17-18 dated 22.09.2017 for Rs.3,31,580/-. The Corporate Debtor issued a cheque bearing No.000141 dated 28.09.2017 for Rs.33,158/-, which was dishonored due to insufficient funds on 29.09.2017. Another cheque bearing No.000138 dated 14.10.2017 for Rs.3,31,580/- was also dishonored on 25.10.2017. The Corporate Debtor requested to redeposit the cheque dated 14.10.2017, which was redeposited on 23.11.2017 but was again dishonored. The Operational Creditor sent a Legal Notice dated 29.11.2017 under section 138 of the Negotiable

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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 observed that the Petition made by the Operational Creditor is

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**Interpretation:** The legal issue concerns whether the operational creditor has fulfilled all the

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**Application:** The petition filed by Pentax Ferro Incorporate was found to be complete in all

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## Parties

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

## Timeline

- **2016-07-09 — Incorporation of…**: Trako Infra (India) Private Limited…
- **2017-08-31 — Purchase…**: Operational Creditor supplied products to the Corporate Debtor as per Purchase Order No.…

## 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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