# In the matter of TRN Energy Private Limited (IB) 322 (ND)-2021

> NCLT judgment dated 2021-12-07. Citation: TCN-2021-NCLT-00239. M/S Natraj Transport, an operational creditor, filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 7 Dec 2021
- **Citation:** TCN-2021-NCLT-00239
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/trn-energy-private-limited-ib-322-nd-2021-a08d83f5

## Summary

### Background

M/S Natraj Transport, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S TRN Energy Private Limited, the corporate debtor, due to unpaid operational debt. The operational debt arose from coal transportation services provided by Natraj Transport to TRN Energy. Natraj Transport transported coal to the power plant of TRN Energy based on an agreement. The corporate debtor acknowledged the debt in emails and excel sheets but failed to make full payment.

## Facts

M/S Natraj Transport, an operational creditor, provided coal transportation services to M/S TRN Energy Private Limited, the corporate debtor. An agreement existed between the parties for the transportation of coal to the power plant of the corporate debtor. The operational creditor sent its trucks to 'Swastik Washery' or 'Kushmanda Mines' for coal loading. The corporate debtor used to send monthly emails with attached excel sheets confirming the total amount of coal transported, including transportation rates. The operational creditor raised 13 invoices from May 2019 to January 2020, totaling Rs. 22,33,19,044.90. The corporate debtor made payments of Rs. 12,32,15,033 and paid TDS of Rs. 44,66,386. The last payment was received in December 2019, leaving a principal

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor is complete as per Section 9(5) of the …

**Ratio:** Section 9(5) of the IBC outlines the conditions that must be met for the Adjudicating

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**Reasoning:** The court observed that the application filed by the operational creditor was complete.

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**Interpretation:** Section 9(5) of the IBC requires the Adjudicating Authority to examine whether

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**Application:** The court found that the application was complete because the operational

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; AVINASH K.…
- **Appellants:** M/S Natraj…
- **Respondents:** M/S TRN Energy…

## Timeline

- **2019-05-01 — Invoices…**: Operational Creditor raised 13…
- **2019-12-01 — Last Payment…**: The last payment was received in…

## 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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