# In the matter of BGR Energy Systems Limited

> NCLT judgment dated 2024-04-03. Citation: TCN-2024-NCLT-01849. RDC Concrete India Private Limited, the Operational Creditor (OC), filed a company petition…

- **Court:** NCLT
- **Order date:** 3 Apr 2024
- **Citation:** TCN-2024-NCLT-01849
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bgr-energy-systems-limited-d569a2a2

## Summary

### Background

RDC Concrete India Private Limited, the Operational Creditor (OC), filed a company petition against BGR Energy Systems Limited, the Corporate Debtor (CD), seeking to initiate Corporate Insolvency Resolution Process (CIRP). The OC claimed that the CD defaulted in discharging a debt of Rs. 7,15,21,249/-, which includes a principal amount of Rs. 6,39,21,113/- and interest of Rs. 77,03,454/- at 18% per annum. The OC is a private limited company engaged in the manufacture and supply of Ready-Mix Concrete (RMC). The CD is a limited company incorporated on 18.02.1985 and is in the business of construction and allied activities. The CD approached the OC for sub-contracting the work of installation and operation of an RMC batching plant at Ghatampur, UP, and issued various

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## Facts

RDC Concrete India Private Limited (Operational Creditor - OC) filed a petition against BGR Energy Systems Limited (Corporate Debtor - CD) to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in payment. The OC claimed a total debt of Rs. 7,15,21,249/-, comprising a principal amount of Rs. 6,39,21,113/- and interest of Rs. 77,03,454/- at 18% per annum. The OC is in the business of manufacturing and supplying Ready-Mix Concrete (RMC). The CD, incorporated on 18.02.1985, operates in the construction and allied activities sector. The CD engaged the OC for sub-contracting work related to an RMC batching plant at Ghatampur, UP, issuing purchase orders, work orders, and service orders. The OC supplied goods and services to the CD, issuing invoices

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## Issues and analysis

### Issue 1: Whether the Company Petition filed by the Operational Creditor is maintainable for initiating …

**Ratio:** The ratio is based on Section 4 of the IBC, which specifies the minimum threshold for

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**Reasoning:** The court reasoned that the Corporate Debtor admitted to the transactions and the

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**Interpretation:** The legal issue involves interpreting Section 4 of the IBC regarding the

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**Application:** In this case, the court applied the ratio and reasoning to the specific facts,

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** RDC Concrete…
- **Respondents:** BGR Energy…

## Timeline

- **1985-02-18 — Corporate Debtor…**: BGR Energy Systems…
- **2021-03-27 — Demand N…**: Operational Creditor issued a demand notice to…

## 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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