# In the matter of Logix Infratech Private Limited Company Petition (IB) No. 882-ND-2022

> NCLT judgment dated 2022-06-03. Citation: TCN-2022-NCLT-02447. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 3 Jun 2022
- **Citation:** TCN-2022-NCLT-02447
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/logix-infratech-private-limited-company-petition-ib-no-882-nd-2022-997d14bc

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Ahluwalia Contracts (India) Limited, an operational creditor, against M/s Logix Infratech Private Limited, the corporate debtor, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed default in payment of dues related to construction work done for the corporate debtor's project. A settlement agreement was reached between the parties, but the corporate debtor allegedly defaulted on the agreed payment schedule. The operational creditor then filed the petition to initiate CIRP based on this default.

## Facts

M/s Ahluwalia Contracts (India) Limited (Operational Creditor) filed a petition against M/s Logix Infratech Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor and Corporate Debtor entered into agreements for construction work on a project called 'Blossom Greens'. The Corporate Debtor awarded work to the Operational Creditor through a Letter of Intent (LOI) dated 06.09.2010 and subsequent agreements, including a Main Contract dated 05.10.2012 and a Work Order dated 11.07.2014. The Operational Creditor completed the work by 01.10.2015 and submitted a final bill on 07.03.2016. Out of the total invoiced amount, Rs. 10,10,52,519/-

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## Issues and analysis

### Issue 1: Whether the default in payment of installments under the settlement agreement constitutes an …

**Ratio:** The ratio is that an unpaid installment as per a settlement agreement cannot be treated

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**Reasoning:** The court reasoned that the claim of the applicant is based on the breach of terms and

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**Interpretation:** The interpretation of Section 5(21) of the IBC is that an 'operational debt'

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**Application:** In this case, the operational creditor's claim was based on the corporate

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; HEMANT KUMAR…
- **Appellants:** M/s Ahluwalia…
- **Respondents:** M/s Logix…

## Timeline

- **2010-09-06 — Letter of Inte…**: Corporate Debtor awarded work to…
- **2010-12-31 — Agreemen…**: Agreement bearing no. M880314 was executed between the Operational Creditor and the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(21) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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