# In the matter of P.S.T.S LOGISTICS PRIVATE LIMITED

> NCLT judgment dated 2025-05-01. Citation: TCN-2025-NCLT-00139. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 1 May 2025
- **Citation:** TCN-2025-NCLT-00139
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/psts-logistics-private-limited-cbc07dca

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, by M/s. Ranjit Agencies, represented by its proprietor J. James Sebastian Ranjit, against M/s. P.S.T.S Logistics Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that the Corporate Debtor defaulted on a payment of Rs. 1,34,01,750/- for manpower services provided in 2020 at the Karaikal port. The Corporate Debtor failed to remit the payment despite receiving funds from the Karaikal port and issuing an acknowledgment letter promising payment.

## Facts

M/s. Ranjit Agencies, the Operational Creditor, filed an application under Section 9 of the IBC against M/s. P.S.T.S Logistics Private Limited, the Corporate Debtor. The claim arose from unpaid invoices for manpower services provided by the Operational Creditor at the Karaikal port in 2020. The amount due was Rs. 1,34,01,750/-. An agreement was entered into on 2020-06-01 for the supply of staff and laborers. The Corporate Debtor initially promised to pay after receiving funds from the Karaikal port, but later promised to pay directly. Despite receiving payment from the Karaikal port, the Corporate Debtor failed to pay the Operational Creditor. The Operational Creditor issued an invoice on 2023-05-19 and a demand notice on 2023-06-12, which was received by the Corporate

…

## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor meets the requirements of Section 9 of …

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

…

**Reasoning:** The Tribunal found that the Operational Creditor had provided evidence of the debt,

…

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

…

**Application:** In this case, the Operational Creditor had complied with all the requirements

…

## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** M/s. RANJIT…
- **Respondents:** M/s. P.S.T.S…

## Timeline

- **2020-06-01 — Agreement for Manpower…**: Petitioner and Respondent company entered into an agreement for labor for supply of staff…
- **2022-08-08 — Filing of P…**: The petition was filed…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/psts-logistics-private-limited-cbc07dca