# In the matter of Utech Engineering Works (India) Pvt. Ltd. C.P. No.2476-I&BP-2018

> NCLT judgment dated 2019-06-25. Citation: TCN-2019-NCLT-02787. Premium Transmission Private Limited filed a Company Petition seeking to initiate the Corporate…

- **Court:** NCLT
- **Order date:** 25 Jun 2019
- **Citation:** TCN-2019-NCLT-02787
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/utech-engineering-works-india-pvt-ltd-cp-no2476-ibp-2018-64c28f45

## Summary

### Background

Premium Transmission Private Limited filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against U Tech Engineering Works (India) Pvt. Ltd., alleging default in payment of Rs. 53,48,472/- along with interest. The petition was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rules 5 and 6 of the Insolvency & Bankruptcy (AAA) Rules, 2016. The petitioner claimed to have supplied goods to the corporate debtor, raising invoices for Rs.3,13,61,524/-, of which Rs.2,60,13,052/- was paid, leaving a balance of Rs. 53,48,472/-. The corporate debtor contended that the petition was premature and no amount was due, citing delays in supply and other issues related to purchase orders and bank guarantees.

## Facts

Premium Transmission Private Limited (Petitioner) filed a petition against U Tech Engineering Works (India) Pvt. Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016, claiming a default of Rs. 53,48,472/-. The Petitioner is in the business of manufacturing and selling gear boxes, while the Corporate Debtor is involved in the design, manufacture, supply, and erection of mill houses, boiling houses, and sugar refineries. The Petitioner claimed to have supplied goods worth Rs.3,13,61,524/- to the Corporate Debtor, of which Rs.2,60,13,052/- was paid. The Petitioner sent a demand notice on 02.04.2018, which was not replied to. The Corporate Debtor argued that the petition was premature, citing delays in supply, issues with purchase orders, and the invalidity of bank

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor is in compliance with the provisions of …

**Ratio:** The Insolvency and Bankruptcy Code (IBC) provides a framework for the resolution of

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**Reasoning:** The court found that the application filed by the Operational Creditor was in compliance

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**Interpretation:** Section 8 and 9 of the IBC outline the requirements for an operational creditor

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**Application:** The court applied the provisions of Section 8 and 9 of the IBC to the facts of

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## Parties

- **Judges:** Bhaskara Pantula…; V. Nallasen…
- **Appellants:** Premium Transmissi…
- **Respondents:** Utech Engineering…
- **Advocates:** Amit kumar…; Sagar Bhi…

## Timeline

- **2018-04-02 — Demand N…**: Petitioner sent a Demand Notice in Form-3 under Section 8 of the Code demanding for…
- **2019-06-25 — Order Del…**: Order delivered on 25.06.2019 admitting 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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