# In the matter of Trident Ltd.

> NCLT judgment dated 2023-07-17. Citation: TCN-2023-NCLT-05309. M/s NTT Data Business Solutions Pvt. Ltd. (Operational Creditor/Petitioner) filed a petition…

- **Court:** NCLT
- **Order date:** 17 Jul 2023
- **Citation:** TCN-2023-NCLT-05309
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/trident-ltd-1c3fa575

## Summary

### Background

M/s NTT Data Business Solutions Pvt. Ltd. (Operational Creditor/Petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Trident Ltd. (Corporate Debtor/Respondent). The Operational Creditor is in the business of providing Software Solutions in SAP Consulting, Technology and Outsourcing Services. The Corporate Debtor wanted to implement SAP S4 HANA Software.

## Facts

NTT Data Business Solutions Pvt. Ltd. (formerly known as Itelligence India Software Solution Pvt. Ltd.) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Trident Ltd.

An agreement was entered into between NTT Data and Trident Ltd. on 27.01.2020 for implementing SAP S4 HANA Software, with a timeline of 14 months.

NTT Data raised invoices for the work done, but Trident Ltd. put the project on hold due to Covid-19 related lockdown and hardware delivery issues.

Trident Ltd. acknowledged and accepted to pay Rs. 3,81,13,654/- to NTT Data.

NTT Data sent a notice on 11.06.2021 for clearing outstanding dues.

Trident Ltd. invoked arbitration and sent a notice on 14.06.2021.

…

## Issues and analysis

### Issue 1: Whether the petition is maintainable under Section 9 of the IBC, 2016, given the existence of an …

**Ratio:** The existence of a pre-existing dispute and the pendency of arbitration proceedings

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**Reasoning:** The Adjudicating Authority relied on the arbitration clause in the agreement dated

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**Interpretation:** The presence of a valid arbitration clause and the initiation of arbitration

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**Application:** In this case, the arbitration clause and the initiation of arbitration

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Respondents:** M/s Triden…; M/s NTT Data…
- **Other parties:** Dhruv M…
- **Advocates:** Vishal Ag…; Aayush Ag…; +4 more

## Timeline

- **2020-01-27 — Agreement…**: Agreement between NTT Data and Trident Ltd.…
- **2021-06-11 — Notice for Clea…**: NTT Data sent a notice to Trident…

## 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/trident-ltd-1c3fa575