# In the matter of Experio Tech Private Limited

> NCLT judgment dated 2025-01-08. Citation: TCN-2025-NCLT-00651. M/s Transline Technologies Limited, claiming to be an operational creditor, filed an…

- **Court:** NCLT
- **Order date:** 8 Jan 2025
- **Citation:** TCN-2025-NCLT-00651
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/experio-tech-private-limited-0815654c

## Summary

### Background

M/s Transline Technologies Limited, claiming to be an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Experio Tech Private Limited, the corporate debtor. The operational creditor claimed an outstanding debt of Rs. 3,87,90,800/-. The corporate debtor disputed the claim, asserting that the relationship between the parties was not that of an operational creditor and corporate debtor, but rather a joint business venture with profit-sharing arrangements. The corporate debtor also claimed that a full and final settlement had occurred on 01.06.2022.

## Facts

M/s Transline Technologies Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Experio Tech Private Limited (Corporate Debtor). Transline claimed an outstanding debt of Rs. 3,87,90,800/- based on the supply of IT-related electronic equipment to Experio Tech. The invoices were raised between 23.10.2021 and 10.12.2021. Experio Tech made a part payment of Rs. 1,68,00,000/- on 01.06.2022. Transline issued a demand notice on 12.01.2023, which Experio Tech replied to on 23.01.2023. Experio Tech argued that the relationship was not that of an operational creditor and corporate debtor, but a joint business venture with profit-sharing. They cited

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## Issues and analysis

### Issue 1: Whether the instant Applicant would fall under the definition of ‘Operational Creditor' within the …

**Ratio:** The ratio is derived from Section 5(20) of the Insolvency and Bankruptcy Code, 2016,

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**Reasoning:** The Adjudicating Authority reasoned that the agreement dated 03.09.2021 indicated an

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**Interpretation:** The interpretation of Section 5(20) hinges on the nature of the debt and the

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

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; Sanjeev R…
- **Appellants:** M/s Transline…
- **Respondents:** Experio Tech…
- **Advocates:** Amit Kr.…; Anurag…; +2 more

## Timeline

- **2021-10-23 — Invoice…**: Operational Creditor…
- **2021-11-16 — Invoice…**: Operational Creditor…

## 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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