Om Tranns Infra Corporation Pvt. Ltd. Vs Everrenew Energy Pvt. Ltd. (NCLT Chennai)
Settlement Agreement Doesn’t Alter Operational Debt; NCLT Chennai Admits Section 9 Insolvency Plea
The National Company Law Tribunal, Chennai Bench, considered a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 by the Operational Creditor seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. By a separate order, the Tribunal admitted the petition, initiated CIRP against the Corporate Debtor and appointed Shri S. Kangayan as the Interim Resolution Professional (IRP).
Material Facts and Procedural Background
According to the petition, the Corporate Debtor engaged the Operational Creditor during 2024 for transportation and carrier services. The Operational Creditor rendered services from June 2024 to October 2024 and raised invoices aggregating to an operational debt of ₹3,24,05,707/-. The date of default was stated to be 16.11.2024. After default in payment, the Operational Creditor issued a demand notice under Section 8 of the IBC on 18.11.2024. Following receipt of the demand notice, the Corporate Debtor made a part payment of ₹79,52,964/- and replied on 31.12.2024 alleging that the transportation services suffered from frequent vehicle breakdowns causing delays and operational losses. As the remaining dues remained unpaid, the Section 9 petition was filed. The Operational Creditor relied upon invoices, log sheets, work orders, ledger accounts, computation of debt, bank certificate, Form GSTR-3B, demand notice and reply.
