# In the matter of Gallictranx Cargo Logistics Pvt. Ltd.

> NCLT judgment dated 2024-05-01. Citation: TCN-2024-NCLT-01489. The case involves a petition filed by All Cargo Logistics Ltd. under Section 9 of the…

- **Court:** NCLT
- **Order date:** 1 May 2024
- **Citation:** TCN-2024-NCLT-01489
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gallictranx-cargo-logistics-pvt-ltd-5e7f3d4c

## Summary

### Background

The case involves a petition filed by All Cargo Logistics Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Gallictrans Cargo Logistics. The operational creditor, All Cargo Logistics, claimed a default amount of Rs. 1,03,11,362.58, which included interest. The respondent, Gallictrans Cargo Logistics, contested the claim, stating they acted as forwarding agents for known principals and that the claim was wrongly claimed. The petition was initially dismissed due to the operational creditor's non-appearance but was later restored. A settlement agreement dated 09.10.2018 was placed on record.

## Facts

All Cargo Logistics Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Gallictrans Cargo Logistics Pvt. Ltd. (Corporate Debtor). The claim was for a default amount of Rs. 1,03,11,362.58, including interest, for services provided between June 2018 and October 2018. The Corporate Debtor was incorporated on 10.04.2012. The Operational Creditor issued a statutory demand notice on 08.08.2019, which was received by the Corporate Debtor. The Corporate Debtor confirmed the liability towards payment of the outstanding amounts in a Settlement Agreement dated 09.10.2018. The Corporate Debtor issued 71 cheques towards part-payment, but they were

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## Issues and analysis

### Issue 1: Whether the petition filed by All Cargo Logistics Ltd. under Section 9 of the IBC for initiating …

**Ratio:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a corporate

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**Reasoning:** The court considered the facts presented, including the settlement agreement, invoices,

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**Interpretation:** Section 9 of the IBC provides a mechanism for operational creditors to recover

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**Application:** The court applied Section 9 of the IBC to the facts of the case and found that

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## Parties

- **Judges:** V.G. B…; Prabhat…
- **Appellants:** All Cargo…
- **Respondents:** Gallictrans Cargo…

## Timeline

- **2012-04-10 — Incorporation of…**: Gallictrans Cargo Logistics Pvt. Ltd. was…
- **2018-03-06 — Fire Inc…**: A major fire occurred in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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