# In the matter of Trig Guardforce Limited

> NCLT judgment dated 2024-11-28. Citation: TCN-2024-NCLT-00129. M/s. Sawant Cafe, through its proprietor Mr. Ajay Sawant, filed a company petition seeking to…

- **Court:** NCLT
- **Order date:** 28 Nov 2024
- **Citation:** TCN-2024-NCLT-00129
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/trig-guardforce-limited-09ae786d

## Summary

### Background

M/s. Sawant Cafe, through its proprietor Mr. Ajay Sawant, filed a company petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Trig Guardforce Limited. The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, alleging that the Corporate Debtor defaulted in repaying an operational debt of Rs. 1,03,49,072.26/-. The Operational Creditor claimed to be engaged in providing food transportation services and that the Corporate Debtor was a purchaser of goods from them, with invoices raised between 2016 and 2023. An agreement dated 01.04.2016 existed between the parties for purchasing genuine fooding. The Corporate Debtor acknowledged the debt in a letter dated 05.01.2019. While some invoices were cleared, 41 invoices

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## Facts

M/s. Sawant Cafe, the Operational Creditor, is engaged in providing food transportation services. Trig Guardforce Limited, the Corporate Debtor, purchased goods from the Operational Creditor, with invoices raised between 2016 and 2023. An agreement dated 01.04.2016 existed for the purchase of genuine fooding. The Corporate Debtor acknowledged a debt of Rs. 1,59,18,265.80 as of December 2018. While some invoices were paid, 41 invoices remained unpaid, totaling Rs. 1,03,49,072/-. The last payment made by the Corporate Debtor was on 29.08.2023 for Rs. 1,00,000/-, adjusted against previous invoices. A reminder notice was sent on 13.10.2023. A statutory demand notice dated 31.10.2023 was issued under Section 8 of the IBC, received by the Corporate Debtor on 02.11.2023, but

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor committed a …

**Ratio:** The legal principle is that if an operational debt exists and the Corporate Debtor has

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**Reasoning:** The NCLT reasoned that the invoices, agreement, and acknowledgment of debt established

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**Interpretation:** The interpretation of the law is that the existence of an operational debt and

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**Application:** In this case, the invoices, agreement, and acknowledgment of debt proved the

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## Parties

- **Judges:** ANIL RAJ C…; Kuldip Kumar…
- **Appellants:** M/s. Sawan…
- **Respondents:** Trig Guardforce…; M/s Trig Guardforc…

## Timeline

- **2016-04-01 — Agreement Ex…**: An agreement was executed between the Operational Creditor and Corporate Debtor for…
- **2018-12-01 — Debt Acknowl…**: The Corporate Debtor acknowledged…

## 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)

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