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

> NCLT judgment dated 2021-12-07. Citation: TCN-2021-NCLT-00240. 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-00240
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/trn-energy-private-limited-ib-322-nd-2021-b7de5999

## 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 related to coal transportation services. The operational creditor transported coal to the corporate debtor's power plant, and despite raising invoices and the corporate debtor acknowledging the debt, a significant portion remained unpaid.

## 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 this service. The operational creditor transported coal to 'Swastik Washery' or 'Kushmanda Mines' for delivery to the corporate debtor's power plant. The corporate debtor confirmed the total amount of coal transported via monthly emails with attached excel sheets. The operational creditor raised 13 invoices from May 2019 to January 2020, totaling Rs. 22,33,19,044.90. The corporate debtor made partial 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 balance of Rs. 9,56,37,626 outstanding. The operational

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor under Section 9 of the IBC is complete …

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

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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 is interpreted to mean that if the application is

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**Application:** In this case, the court found that the operational creditor's application was

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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…**: Corporate Debtor made the…

## 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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