# In the matter of TPI India Limited CP (IB) 1103-MB-C-I-2019

> NCLT judgment dated 2023-06-23. Citation: TCN-2023-NCLT-05423. Gandhar Oil Refinery India Limited filed a petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 23 Jun 2023
- **Citation:** TCN-2023-NCLT-05423
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/tpi-india-limited-cp-ib-1103-mb-c-i-2019-f1caaa00

## Summary

### Background

Gandhar Oil Refinery India Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against TPI India Limited, claiming a default amount of Rs. 1,73,58,894/-. Gandhar Oil Refinery claimed to be an operational creditor based on the supply of goods to TPI India Limited.

## Facts

Gandhar Oil Refinery India Limited filed a petition under Section 9 of the IBC to initiate CIRP against TPI India Limited.

The claimed default amount was Rs. 1,73,58,894/-.

Gandhar Oil Refinery India Limited claimed to be an operational creditor based on the supply of goods.

TPI India Limited argued that Gandhar Oil Refinery India Limited was acting as an agent of IOCL.

TPI India Limited contended that there was no privity of contract between them and Gandhar Oil Refinery India Limited.

The invoices were raised by IOCL, with Gandhar Oil Refinery India Limited mentioned as DCA (Del Credere Agent).

A Consignment Stockist Agreement and Del Credere Agreement existed between Gandhar Oil Refinery India Limited and IOCL.

…

## Issues and analysis

### Issue 1: Whether Gandhar Oil Refinery India Limited is an Operational Creditor within the meaning of Section …

**Ratio:** The NCLT held that Gandhar Oil Refinery India Limited was acting as an agent of IOCL and

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**Reasoning:** The invoices were raised by IOCL, and Gandhar Oil Refinery India Limited was mentioned as

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**Interpretation:** The definition of 'Operational Creditor' under Section 5(20) requires a direct

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**Application:** Since Gandhar Oil Refinery India Limited was acting as an agent of IOCL, it

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## Parties

- **Judges:** H.V. Subb…; Shyam Babu…
- **Appellants:** Gandhar Oil…
- **Respondents:** TPI India L…
- **Advocates:** Shyam Ka…; Pranav D…

## Timeline

- **2016-03-31 — Date of D…**: The date of default is considered as the due…
- **2018-07-07 — Demand N…**: The Petitioner issued a demand…

## 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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