# In the matter of Metenere Limited

> NCLT judgment dated 2025-12-02. Citation: TCN-2025-NCLT-01889. M/S Teneron Limited filed three applications (IA(I.B.C)/4463(PB)2024, IA(I.B.C)/4471(PB)2024,…

- **Court:** NCLT
- **Order date:** 2 Dec 2025
- **Citation:** TCN-2025-NCLT-01889
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/metenere-limited-6657e607

## Summary

### Background

M/S Teneron Limited filed three applications (IA(I.B.C)/4463(PB)2024, IA(I.B.C)/4471(PB)2024, and IA(I.B.C)/251(PB)2025) in CP (IB)/639(PB)/2018, seeking various reliefs related to a job work agreement with M/S Metenere Limited (Corporate Debtor). The applications concern the release of sums, rendering of accounts, and ownership of materials.

## Facts

M/S Teneron Limited and M/S Metenere Limited (Corporate Debtor) entered into a job work agreement on 01.04.2019.

The Corporate Debtor (M/S Metenere Limited) was admitted into Corporate Insolvency Resolution Process (CIRP) on 25.09.2020.

Surendra Raj Gang was appointed as the Resolution Professional (RP) for the Corporate Debtor.

M/S Teneron Limited claims that it has paid INR 224.31 crores to the Corporate Debtor since the commencement of CIRP but has only received goods worth INR 217 crores in return.

M/S Teneron Limited claims a refund of INR 7.11 crores along with interest at 12%.

M/S Teneron Limited claims that the Corporate Debtor sold 'Dross' generated during the processing of material in breach of the job work agreement.

…

## Issues and analysis

### Issue 1: Whether the dues payable by the Corporate Debtor to the Applicant, admitted by the Resolution …

**Ratio:** Yes, the cost accruing on account of a transaction under the job work agreement shall be

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**Reasoning:** The Adjudicating Authority referred to Section 5(13) of the IBC and Regulation 31 of the

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**Interpretation:** The Adjudicating Authority interpreted the definition of CIRP costs broadly to

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**Application:** The Adjudicating Authority applied this interpretation to the facts of the

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## Parties

- **Judges:** Ramalingam…; RAVINDRA CHATURVED…
- **Appellants:** M/S Teneron…
- **Respondents:** M/s. Metenere…; Surendra Ra…; +2 more
- **Other parties:** State Bank of…
- **Advocates:** Akshay S…; Doel…; +4 more

## Timeline

- **2019-04-01 — Job Work Ag…**: M/S Teneron Limited and M/S Metenere…
- **2020-09-25 — CIRP Commen…**: M/S Metenere Limited was admitted into…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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