# In the matter of Simplex Infrastructures Limited

> NCLT judgment dated 2025-11-04. Citation: TCN-2025-NCLT-01716. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 4 Nov 2025
- **Citation:** TCN-2025-NCLT-01716
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/simplex-infrastructures-limited-8e5cd926

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Laxmidhar Mohanty (Operational Creditor) against M/s. Simplex Infrastructures Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP).

## Facts

Laxmidhar Mohanty (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Simplex Infrastructures Limited (Corporate Debtor).

The Operational Creditor is engaged in supplying services for earthwork construction and equipment.

The Corporate Debtor failed to settle invoices for work done, leading to a dispute.

The Corporate Debtor acknowledged a liability of Rs. 7,37,44,476/- on 20.01.2020.

A demand notice was issued on 19.09.2021 in compliance with Form 3 under Section 8 of the Insolvency and Bankruptcy Code, 2016.

A settlement agreement was proposed on 07.10.2022, detailing instalment payments totalling Rs. 5,75,00,000/-.

CP (IB) No. 397/KB/2021 was withdrawn as per the settlement terms.

…

## Issues and analysis

### Issue 1: Whether the breach of a settlement agreement constitutes an 'Operational Debt' under Section 5(21) …

**Ratio:** Breach of the terms and conditions of payment in accordance with a settlement agreement

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**Reasoning:** The Tribunal relied on the decision in Trafigura India Private Limited vs. TDT Copper

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**Interpretation:** The definition of 'Operational Debt' under Section 5(21) of the I&B Code

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**Application:** Since the claim is based on the breach of the settlement agreement, it cannot

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## Parties

- **Judges:** BIDISHA BA…; Siddharth…
- **Appellants:** Laxmidhar M…
- **Respondents:** M/s. SIMPLEX…
- **Advocates:** Anand Kumar…; Akash S…; +4 more

## Timeline

- **2020-01-20 — Acknowledgement of…**: The Corporate Debtor acknowledged…
- **2021-09-19 — Demand N…**: The Operational Creditor issued a demand notice in compliance with Form 3 under Section 8…

## 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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