# In the matter of NICO ALLEN INFRASTRUCTURE PRIVATE LIMITED

> NCLT judgment dated 2026-03-10. Citation: TCN-2026-NCLT-00221. Sany Heavy Industry India Private Limited filed a petition under Section 9 of the Insolvency…

- **Court:** NCLT
- **Order date:** 10 Mar 2026
- **Citation:** TCN-2026-NCLT-00221
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/nico-allen-infrastructure-private-limited-9d168477

## Summary

### Background

Sany Heavy Industry India Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Nico Allen Infrastructure Private Limited, claiming an operational debt.

## Facts

Sany Heavy Industries India Private Limited (Operational Creditor) filed a petition under Section 9 of IBC against Nico Allen Infrastructure Private Limited (Corporate Debtor).

The Operational Creditor claimed a total outstanding debt of Rs. 9,99,42,002/-.

The debt consisted of Rs. 7,79,57,880/- payable towards two invoices and Rs. 2,19,84,122.16/- payable towards interest at 24% p.a.

The dates of default were 30.01.2024 and 31.01.2024 for the two invoices.

The Corporate Debtor claimed to have approached Union Bank of India for a loan to purchase the piling rigs but faced delays.

The Corporate Debtor issued cheques to address the concerns of the applicant but requested the applicant to hold the cheques.

…

## Issues and analysis

### Issue 1: Whether the petition filed under …

**Ratio:** The petition is maintainable if there is an operational debt, a default, and no

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**Reasoning:** The Tribunal found that there was an operational debt exceeding the threshold, a default

…

**Interpretation:** The existence of an operational debt and default, in the absence of a

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**Application:** The Tribunal admitted the petition, finding that the conditions for admission

…

## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** Sany Heavy…
- **Respondents:** Nico Allen…
- **Other parties:** Ayyamplalayam…; Sany Heavy…
- **Advocates:** Anirban Bhattachar…; Rajeev Cho…; +3 more

## Timeline

- **2024-01-30 — Date of D…**: First date of default…
- **2024-01-31 — Date of D…**: Second date of default…

## 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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