# In the matter of Isolux Corsan India Engineering & Construction Private Limited IA Nos. 614-2020 & 52-2022 in CP (IB) No.97-Chd-Hry-2018

> NCLT judgment dated 2023-03-01. Citation: TCN-2023-NCLT-04408. The case involves two Interlocutory Applications (IAs), 614/2020 and 52/2022, within a…

- **Court:** NCLT
- **Order date:** 1 Mar 2023
- **Citation:** TCN-2023-NCLT-04408
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/isolux-corsan-india-engineering-construction-private-limited-ia-nos-614-2020-52-712d85be

## Summary

### Background

The case involves two Interlocutory Applications (IAs), 614/2020 and 52/2022, within a Corporate Insolvency Resolution Process (CIRP) initiated on 2018-10-11. The liquidation of Isolux Corsan India Engineering and Construction Private Limited, the Corporate Debtor, commenced on 2020-02-06. IA 614/2020 was filed by Man Structurals Pvt. Ltd. seeking to set aside the Liquidator's decision to reject a substantial claim. IA 52/2022 was filed by M/s. Baaz Security Services seeking to set aside the Liquidator's decision to reject their claim. The core dispute in IA 614/2020 revolves around the admissibility of claims based on proforma invoices and interest, while IA 52/2022 concerns a claim for security services provided to the Corporate Debtor.

## Facts

Man Structurals Pvt. Ltd. claimed Rs. 11,46,45,242/- which was rejected by the Liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2018-10-11, and liquidation commenced on 2020-02-06. Man Structurals provided transmission line towers, sub-station structures, and railway electrification structures to the Corporate Debtor based on purchase orders from 2012, 2014. The Liquidator rejected the claim because the submitted PV bills were proforma and not original invoices, and the Letter of Award lacked interest clauses. The Liquidator admitted Rs 3,95,38,721/- of the claim. M/s. Baaz Security Services provided security services to the Corporate Debtor based on an agreement from 2014, extended until 2017. The Liquidator rejected M/s. Baaz Security

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## Issues and analysis

### Issue 1: Whether the Liquidator's decision to reject the claim of Man Structurals Pvt. Ltd. is justified …

**Ratio:** Proforma invoices are merely tentative statements and cannot be considered as conclusive

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**Reasoning:** The court relied on the judgment of the Kerala High Court in Karn Vir Mehta v. Collector

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**Interpretation:** The interpretation of 'invoice' requires it to be a final and binding document

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**Application:** The court found that Man Structurals Pvt. Ltd. had not provided original

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** Man Structurals…
- **Respondents:** Isolux Corsan…; Rajeev B…

## Timeline

- **2018-10-11 — CIRP Init…**: Corporate Insolvency…
- **2020-02-06 — Liquidation Com…**: Liquidation of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 42 — Appeal against the decision of liquidator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-42)

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