# In the matter of Valentis Laboratories Private Limited

> NCLT judgment dated 2023-04-25. Citation: TCN-2023-NCLT-03638. Alex Constructions Private Limited, the Operational Creditor (OC), filed an application against…

- **Court:** NCLT
- **Order date:** 25 Apr 2023
- **Citation:** TCN-2023-NCLT-03638
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/valentis-laboratories-private-limited-931c0b09

## Summary

### Background

Alex Constructions Private Limited, the Operational Creditor (OC), filed an application against Valentis Laboratories Private Limited, the Corporate Debtor (CD), seeking to initiate Corporate Insolvency Resolution Process (CIRP) for default in discharging a debt. The OC claimed that the CD availed their specialized construction services for an Intermediate Block, for which Bill No.1 dated 26.06.2017 was issued for Rs.64,77,862/-, which was partially paid, leaving an outstanding debt of Rs.18,56,158/- with 24% per annum interest. The OC sent a Demand Notice on 29.09.2019, which the CD denied. The CD contended that the OC was under strike-off during the issuance of the Demand Notice, rendering it invalid. The CD also argued that the Demand Notice was not in the

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## Facts

Alex Constructions Private Limited (Operational Creditor - OC) filed an application against Valentis Laboratories Private Limited (Corporate Debtor - CD) to initiate CIRP under Section 9 of IBC, claiming a default of Rs.18,56,158/- with 24% interest. The OC provided construction services to the CD for an Intermediate Block, issuing Bill No.1 dated 26.06.2017 for Rs.64,77,862/-, which was partially paid. The OC sent a Demand Notice on 29.09.2019. The CD denied the debt and claimed the OC was under strike-off when the Demand Notice was issued. The CD also alleged the Demand Notice was not in the prescribed format and lacked authorization. The CD further claimed defective construction work and a pre-existing dispute regarding the quality of materials. The OC admitted to

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor is maintainable given that the …

**Ratio:** A company under strike-off lacks the legal capacity to initiate legal proceedings or

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**Reasoning:** The court reasoned that since the Operational Creditor (OC) was under strike-off at the

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**Interpretation:** The interpretation is that a company that has been struck off the register of

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**Application:** The court applied this principle to the fact that Alex Constructions Private

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## Parties

- **Judges:** TELAPROLU…; SH. CHARAN…
- **Appellants:** Alex Constructions…
- **Respondents:** Valentis Laborator…; Srichaitanya…

## Timeline

- **2017-06-26 — Bill Iss…**: Alex Constructions issued Bill No.1 for Rs.64,77,862/- to Valentis Laboratories for…
- **2017-09-01 — OC Director's…**: Director of Alex Constructions stated the company was not in compliance with Companies…

## 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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