# In the matter of Trident Ltd.

> NCLT judgment dated 2023-07-17. Citation: TCN-2023-NCLT-05305. 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-05305
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/trident-ltd-dbe1525a

## 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).

## Facts

NTT Data Business Solutions Pvt. Ltd. (formerly Itelligence India Software Solution Pvt. Ltd.) is the Operational Creditor.

Trident Ltd. is the Corporate Debtor.

An agreement was entered into between the parties on 27.01.2020 for SAP S4 HANA Software implementation.

The Operational Creditor claimed a default of Rs. 3,81,13,654/-.

The Corporate Debtor invoked arbitration on 14.06.2021.

The Operational Creditor issued a demand notice on 28.06.2021.

The Corporate Debtor claimed deficiencies in the work carried out by the Operational Creditor.

The Corporate Debtor filed an Arbitration Case No. 351 of 2021 in the Hon'ble Punjab and Haryana High Court.

The Operational Creditor also filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996 at Barnala, Punjab.

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## Issues and analysis

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

**Ratio:** The Hon'ble Supreme Court in Mobilox Innovations Private Limited Vs. Kirusa Software

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**Reasoning:** The Adjudicating Authority noted the existence of a pre-existing dispute between the

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**Interpretation:** The existence of a pre-existing dispute, coupled with the invocation of

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**Application:** The Adjudicating Authority applied the principle established in Mobilox

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Respondents:** Trident…; NTT Data Business…
- **Other parties:** Dhruv G…
- **Advocates:** Vishal Ag…; Aayush Ag…; +4 more

## Timeline

- **2020-01-27 — Agreement…**: Agreement entered into between NTT Data…
- **2021-06-11 — Notice D…**: Operational Creditor sent a notice…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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