# In the matter of Eashkrupa Shipping & Logistics (I) Private Limited

> NCLT judgment dated 2023-10-20. Citation: TCN-2023-NCLT-01079. LCL Logistix (India) Pvt. Ltd. filed a company petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 20 Oct 2023
- **Citation:** TCN-2023-NCLT-01079
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/eashkrupa-shipping-logistics-i-private-limited-0db1d0cd

## Summary

### Background

LCL Logistix (India) Pvt. Ltd. filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Eashkrupa Shipping & Logistics India Private Limited, alleging default in payment. The Corporate Debtor allegedly failed to pay Rs. 2,13,89,662.85/- to the Petitioner. The Operational Creditor, LCL Logistix, is engaged in the business of sea freight, air freight, container freight, warehousing, and related logistics services. The Corporate Debtor approached the Applicant for transportation services, and the Applicant provided services and raised invoices. The Corporate Debtor made part payments via cheques, which were later dishonored with the remark 'Payment Stopped by

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## Facts

LCL Logistix (India) Pvt. Ltd., the Operational Creditor, filed a petition against Eashkrupa Shipping & Logistics India Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor provided freight and logistics services to the Corporate Debtor, raising invoices for these services. The Corporate Debtor made partial payments through cheques, which were subsequently dishonored due to 'Payment Stopped by Drawer'. The total outstanding amount claimed by the Operational Creditor is Rs. 2,13,89,662.85/-. The Operational Creditor initiated proceedings under Section 138 of the Negotiable Instruments Act due to the dishonored cheques. The Corporate Debtor, in response to demand notices, admitted to issuing the

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## Issues and analysis

### Issue 1: Whether the Operational Creditor has established the existence of an operational debt and a default …

**Ratio:** The Insolvency and Bankruptcy Code, 2016, defines 'operational debt' as a claim in

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**Reasoning:** The court found that the Operational Creditor provided services to the Corporate Debtor

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**Interpretation:** The court interpreted the definition of 'operational debt' and 'default' under

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**Application:** The court applied the ratio to the facts by noting that the services were

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## Parties

- **Judges:** Kuldip Kumar…; ANURADHA SANJAY…
- **Appellants:** LCL Logistix…
- **Respondents:** Eashkrupa…

## Timeline

- **2019-06-12 — Invoice Perio…**: Start of the period to which…
- **2019-07-08 — Invoice Per…**: End of the period to which…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 138 — Discharge order](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-138)

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