# In the matter of Transparent Energy Systems Private Limited CP No.3448 (IB)-MB-2018

> NCLT judgment dated 2019-03-08. Citation: TCN-2019-NCLT-04533. Tractebel Engineering Private Limited, an operational creditor, filed a Company Petition under…

- **Court:** NCLT
- **Order date:** 8 Mar 2019
- **Citation:** TCN-2019-NCLT-04533
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/transparent-energy-systems-private-limited-cp-no3448-ib-mb-2018-655610b9

## Summary

### Background

Tractebel Engineering Private Limited, an operational creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Transparent Energy Systems Private Limited, a corporate debtor, due to a default in payment of ₹9,00,000/- as of 03.04.2015. The operational creditor provided engineering consultancy services to the corporate debtor based on two purchase orders. Despite providing services to the satisfaction of the corporate debtor and sending final reports, payments were not released. A settlement agreement was entered into, but defaults occurred again, leading to the filing of the petition.

## Facts

Tractebel Engineering Private Limited (Operational Creditor) provided engineering consultancy services to Transparent Energy Systems Private Limited (Corporate Debtor) based on two purchase orders for plants in Boyareddypalli and Ganeshpahad. The total consideration was ₹11,00,000/- each, excluding taxes. The services were provided to the satisfaction of the Corporate Debtor, and final reports were sent via email on 22.09.2015 and 08.08.2015. The Corporate Debtor failed to release payments despite a 30-day credit period. The Operational Creditor issued a demand notice on 17.10.2017 for ₹23,65,421/-, leading to a settlement agreement on 30.10.2017. Defaults occurred again, leaving a balance of ₹15,31,752/-. A fresh demand notice was issued on 22.06.2018 for

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## Issues and analysis

### Issue 1: Whether there was a default of the …

**Ratio:** As per the mandate of the Code, the Adjudicating Authority is only required to ascertain

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**Reasoning:** The court noted that the default of the operational debt was more than ₹1,00,000/-. The

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**Interpretation:** The IBC mandates that if the operational debt exceeds ₹1,00,000/- and there is

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**Application:** In this case, the outstanding debt was ₹9,00,000/-, which is more than

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## Parties

- **Judges:** V. P. S…; RavikumarDu…
- **Appellants:** Tractebel…
- **Respondents:** Transparent…

## Timeline

- **2015-04-03 — Default…**: Corporate Debtor defaulted in…
- **2015-08-08 — Final Repor…**: Final report against purchase order for Penna…

## 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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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/transparent-energy-systems-private-limited-cp-no3448-ib-mb-2018-655610b9