# In the matter of ASB ENERGY SYSTEMS AND CONSTRUCTION PRIVATE LIMITED

> NCLT judgment dated 2025-10-15. Citation: TCN-2025-NCLT-01511. Daga Power Systems & Engineers Private Limited filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 15 Oct 2025
- **Citation:** TCN-2025-NCLT-01511
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-cuttack/asb-energy-systems-and-construction-private-limited-6f52ba3c

## Summary

### Background

Daga Power Systems & Engineers Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against ASB Energy Systems and Construction Private Limited, claiming a default of Rs. 3,19,92,738/- along with interest.

## Facts

Daga Power Systems & Engineers Private Limited (Operational Creditor) filed an application under Section 9 of the IBC against ASB Energy Systems and Construction Private Limited (Corporate Debtor).

The Operational Creditor claimed a default of Rs. 3,19,92,738/- along with interest.

The Corporate Debtor was incorporated on 05.08.2019 and is engaged in providing turnkey solutions for power generation plants.

The Corporate Debtor had earlier been carrying on business as a partnership firm under the name of M/s. S.B. Electro Structural.

The Operational Creditor and M/s. S.B. Electro Structural had entered into a Joint Venture Agreement dated 15.02.2018.

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## Issues and analysis

### Issue 1: Whether the application under …

**Ratio:** The application can be admitted if there is an operational debt exceeding Rs. 1 lakh, the

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**Reasoning:** The Adjudicating Authority considered the pleadings, documents, and submissions made by

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**Interpretation:** The term 'claim' means a right to payment even if it is disputed. Therefore,

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**Application:** The Adjudicating Authority admitted the application under Section 9 of the IBC,

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## Parties

- **Judges:** Deep Chandr…; Banwari Lal…
- **Appellants:** DAGA POWER…
- **Respondents:** ASB Energy…
- **Other parties:** Chittaranja…; Krishna Enterprise…; +2 more
- **Advocates:** Shovan…

## Timeline

- **2018-02-15 — Joint Venture…**: The Operational Creditor and M/s. S.B. Electro Structural entered into a Joint Venture…
- **2019-08-05 — Incorporation of…**: The Corporate Debtor…

## 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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