# In the matter of CU ENERGIES LIMITED

> NCLT judgment dated 2025-08-28. Citation: TCN-2025-NCLT-01329. HPL Electric & Power Ltd filed an application under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 28 Aug 2025
- **Citation:** TCN-2025-NCLT-01329
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/cu-energies-limited-351a157a

## Summary

### Background

HPL Electric & Power Ltd filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against CU Energies Limited.

## Facts

HPL Electric & Power Ltd (Operational Creditor) filed an application under Section 9 of the IBC to initiate CIRP against CU Energies Limited (Corporate Debtor).

The Operational Creditor claimed a default amount of Rs. 4,93,27,461/- (Principal Amount Rs.4,51,32,230/- with an interest Amount Rs. 41,95,231/-).

The Operational Creditor supplied electric and electronic goods to the Corporate Debtor since 2019.

The applicant raised 47 invoices to the tune of Rs. 4,77,48,766/- which were issued during the period from 01.04.2022 to 31.12.2022.

The respondent issued two cheques of Rs. 2,41,67,466/- and Rs.2,09,64,764/- respectively, in favor of the applicant, however, the same got dishonored when presented for payment on 25.05.2023.

…

## Issues and analysis

### Issue 1: Whether the respondent …

**Ratio:** Yes…

**Reasoning:** The respondent defaulted in making the payment. The claim of the applicant stands

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**Interpretation:** The respondent's failure to pay

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**Application:** The Adjudicating Authority admitted the application and initiated CIRP against

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## Parties

- **Judges:** Mohan P.…; SANJEEV S…
- **Appellants:** HPL Electric &…
- **Respondents:** CU Energies…; CU Energi…
- **Other parties:** Navin Khan…
- **Advocates:** Rohit D…

## Timeline

- **2024-03-12 — Petition…**: This petition is filed on 12.03.2024, by Mr. Priyanshu Kandhway, Authorized…
- **2023-11-17 — Demand N…**: The applicant sent a demand notice dated…

## 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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