# NTEx Transportation Services Private Limited vs. Agriallx Ventures Private Limited

> NCLT judgment dated 2026-06-30. Citation: TCN-2026-NCLT-00594. NTEx Transportation Services Private Limited (Operational Creditor) filed a Section 9 IBC…

- **Court:** NCLT
- **Order date:** 30 Jun 2026
- **Citation:** TCN-2026-NCLT-00594
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/ntex-transportation-services-private-limited-vs-agriallx-ventures-private-limite-8yed7

## Summary

### Background

NTEx Transportation Services Private Limited (Operational Creditor) filed a Section 9 IBC application against Agriallx Ventures Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 1,14,12,122/-. The default arose from the Corporate Debtor's failure to supply goods (Palm Oil) and refund an advance payment of Rs. 1,25,00,000/- under a Supplier Agreement. The date of default was identified as 02.10.2024.

## Facts

NTEx Transportation Services Private Limited (Operational Creditor) filed C.P. (IB) No. 611 of 2025 on 13.06.2025 under Section 9 of the IBC, 2016, against Agriallx Ventures Private Limited (Corporate Debtor).

The amount claimed in default is Rs. 1,14,12,122/-.

The date of default is stated to be 02.10.2024, when the Corporate Debtor failed to repay the outstanding debt after a repayment request on 02.10.2024 via email.

The Applicant is a company engaged in the business of logistics and distribution, and the Corporate Debtor is involved in the business of supplying commodities in the form of Oil.

The Operational Creditor and the Corporate Debtor entered into a Supplier Agreement and its Addendum dated 29.06.2024.

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## Issues and analysis

### Issue 1: Whether the amount claimed by the Applicant constitutes an “Operational Debt" within the …

**Ratio:** The Hon'ble Supreme Court in Consolidated Construction Consortium Limited v. HITRO Energy

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**Reasoning:** The Applicant advanced Rs. 1,25,00,000/- to the Corporate Debtor for the supply of Palm

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**Interpretation:** Section 5(21) of the IBC defines "operational debt" broadly to

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**Application:** Applying the Supreme Court's settled principle, the amount advanced by NTEx

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## Parties

- **Judges:** NILESH S…; SAMEER…
- **Appellants:** NTEX Transportatio…
- **Respondents:** Agriallx Ventures…
- **Other parties:** Committee of…; Maaz D…; +1 more
- **Advocates:** Amir Ars…; Rahul G…; +4 more

## Timeline

- **2024-05-13 — First Advance…**: First transaction (S21377412) of advance payments made by the Applicant to the Corporate…
- **2024-06-29 — Supplier Agreement and…**: The Operational Creditor and the Corporate Debtor entered into a Supplier Agreement and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(21) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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