# In the matter of Overseas Infrastructure Alliance (India) Private Limited C.P. (I.B) No. 500-MB-2020

> NCLT judgment dated 2022-12-06. Citation: TCN-2022-NCLT-00224. M/s. Supreme & Co. Private Limited, the Operational Creditor, filed a Company Petition under…

- **Court:** NCLT
- **Order date:** 6 Dec 2022
- **Citation:** TCN-2022-NCLT-00224
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/overseas-infrastructure-alliance-india-private-limited-cp-ib-no-500-mb-2020-6d92aa17

## Summary

### Background

M/s. Supreme & Co. Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Overseas Infrastructure Alliance (India) Private Limited, the Corporate Debtor, for an unresolved Operational Debt of Rs. 29,88,206.20/-. The Corporate Debtor had issued 6 Purchase Orders to the Petitioner for the supply of certain electrical equipment and components. The Petitioner delivered the goods and issued invoices, but the Corporate Debtor defaulted in payment. A discussion towards settlement occurred on 05.07.2019, resulting in a

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## Facts

M/s. Supreme & Co. Private Limited (Operational Creditor) supplied electrical equipment and components to M/s. Overseas Infrastructure Alliance (India) Private Limited (Corporate Debtor) based on six purchase orders issued between 29.10.2015 and 25.08.2016. The Operational Creditor issued invoices for the supplied goods from 07.01.2016 to 16.02.2017. The Corporate Debtor defaulted on payments. On 05.07.2019, a discussion occurred regarding settlement, and it was decided that the cost of earthing rods would be shared equally. Consequently, the Corporate Debtor issued a debit note of Rs. 2,00,000/- to the Petitioner, reducing the outstanding amount to Rs. 17,37,489/-. The Corporate Debtor failed to make the balance payment. The Operational Creditor issued a demand

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## Issues and analysis

### Issue 1: Whether the nature of the debt is an 'Operational Debt' as defined under Section 5(21) of the …

**Ratio:** Section 5(21) of the IBC defines 'Operational Debt' as a debt in respect of the provision

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**Reasoning:** The NCLT considered the facts and determined that the debt arose from the supply of

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**Interpretation:** The definition of 'Operational Debt' is interpreted to include debts arising

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**Application:** The debt in this case arose from the supply of electrical equipment and

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## Parties

- **Judges:** H.V. Subb…; ANURADHA SANJAY…
- **Appellants:** M/s. Supreme &…
- **Respondents:** M/s. Overseas…

## Timeline

- **2015-10-29 — Purchase…**: Corporate Debtor placed Purchase Order…
- **2015-11-09 — Purchase…**: Corporate Debtor placed Purchase Order…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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