# In the matter of SWIKRITI RENEWABLES PRIVATE LIMITED (OPC)

> NCLT judgment dated 2025-06-13. Citation: TCN-2025-NCLT-00706. Esdec India Solar Private Limited, the Operational Creditor, filed an application under Section…

- **Court:** NCLT
- **Order date:** 13 Jun 2025
- **Citation:** TCN-2025-NCLT-00706
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/swikriti-renewables-private-limited-opc-afe53f6a

## Summary

### Background

Esdec India Solar Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Swikriti Renewables Private Limited, the Corporate Debtor, due to unpaid operational debt. The Operational Creditor and Corporate Debtor entered into a Services Agreement dated 01.03.2022, where the Corporate Debtor was to provide business support services. The Operational Creditor raised invoices for the supply of raw materials, but the Corporate Debtor failed to make payments. A Demand Notice was issued, but the Corporate Debtor neither responded nor made any payments, leading to the application before the Tribunal.

## Facts

Esdec India Solar Private Limited (Operational Creditor) filed an application against Swikriti Renewables Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor and Corporate Debtor entered into a Services Agreement dated 01.03.2022, where the Corporate Debtor was to provide business support services, including inventory management, administration, and supply chain management. The Operational Creditor raised two invoices: MH2021-22/0002 dated 24.02.2022 for Rs.61,89,138.96/- and MH2021-22/0003 dated 31.03.2022 for Rs.1,15,69,367.42/-, totaling Rs.1,88,72,551/- (inclusive of GST). The Corporate Debtor failed to make payments within 180 days of the invoice dates. A Demand Notice was issued on 28.10.2022,

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## Issues and analysis

### Issue 1: Whether the Applicant qualifies as an Operational Creditor under the Insolvency and Bankruptcy …

**Ratio:** Section 5(20) and 5(21) of the Code define an Operational Creditor as a person to whom an

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**Reasoning:** The Tribunal found that the relationship between the parties was governed by the Services

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**Interpretation:** The interpretation of 'Operational Creditor' and 'Operational Debt' under the

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**Application:** The Tribunal applied the definition of Operational Creditor to the facts of the

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## Parties

- **Judges:** K. R. SAJI…; SANJIV…
- **Appellants:** Esdec India Solar…
- **Respondents:** Swikriti Renewable…

## Timeline

- **2022-03-01 — Services Ag…**: Operational Creditor and Corporate…
- **2022-02-24 — Invoice MH2021…**: Operational Creditor raised Invoice No.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8(1) — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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