NATIONAL COMPANY LAW TRIBUNAL

(An application under Section 9 of the Insolvency and Bankruptcy Code, 2016)

IN THE MATTER OF:

TVS Supply Chain Solutions Limited

(Formerly known as TVS Logistics Services Limited)

Through its authorized representative

Registered Office at: 10, Jawahar Road, Madurai,

Tamil Nadu, 625002

…Applicant

Versus

ZTE Telecom India Private Limited

Registered Office at: 6th Floor, Tower-B,

Building No.10, DLF Cyber City, Phase-II,

Gurgaon, 122001

CIN: U32204HR2003PTC035635

EMAIL: amaresh.singh@zte.com.cn

…Respondent

Order delivered on: 09.10.2025

Coram: MR. KHETRABASI BISWAL, MEMBER (JUDICIAL)

MR. KAUSHALENDRA KUMAR SINGH, MEMBER (TECHNICAL)

Present:

For the Applicant : Mr. Anand Chhibbar, Senior Advocate with Mr.

Vaibhav Sahni, Advocate

For the Respondent : Ms. Munisha Gandhi, Senior Advocate with Ms.

Daizy Chawla, Mr. Jatin Kapoor, Ms. Salina

Chalana & Mr. Rahul K. Kanojia, Advocates

ORDER

The present Petition is filed by TVS Supply Chain Solutions Limited,

earlier known as TVS Logistic Services Limited, (Applicant-TVS) through an Authorized Representative Mr. Sandeep Sharma under Section 9 of the Insolvency and Bankruptcy Code, 2016 (“Code”) for initiation of Corporate

Insolvency Resolution Process (CIRP) against ZTE Telecom India Private Limited (Respondent-ZTE) for defaulting in payment of Rs.4,27,33,813/- and interest thereon of Rs.75,77,549/- calculated at 12% per annum for the period from 12.06.2012 to 12.02.2019, which was due and payable by the Respondent towards the services rendered by the Applicant.

2. The brief facts of the case, as stated in the petition, and argued by the Ld. Senior Counsel for the Petitioner, are summarized hereunder;

i. The Respondent-ZTE entered into a separate main contract with Indian Telecom Customers such as Reliance, TATA, Aircel, BSNL etc. for supply, install, test, commission, equipment and render other services for a fixed or mobile digital telecommunication networks and for this purpose the Applicant-TVS was appointed as a service provider. The Parties (Applicant and Respondent) had entered into a Master Service Agreement dated 25.07.2012 (MSA-I) which was valid until 24.07.2017 (5 years). Thereafter, another Master Service Agreement dated 01.07.2017 (MSA-II) was entered which was valid up to 30.06.2022 (5 years).

ii. The Applicant-TVS provided the required services for multiple projects of ZTE with various telecom companies from 2012 onwards under the said two Master Service Agreements and raised invoices at a regular interval which were payable within 30 days of raising the invoice as per Article 5 of the MSAs.

iii. ZTE had a vigorous and strict system of generating invoice in accordance with MSA. The flow chart of the process of raising of invoices is provided below:

 Step 1- Purchase order issued by ZTE  Step 2- Completion of work by TVS  Step 3- Generation of work completion certificate (WCC)/Joint Measurement Report (JMR)

 Step 4- WCC/JMR are signed plus stamped by ZTE executive.

 Step 5- WCC is uploaded on the system plus the same is sent to ZTE for approval.

 Step 6- TVS accepts approved WCC from the system to generate the invoice (P-6 invoice).

 Step 7- Tax invoices is generated by the TVS.

The required verification and approval is done in the “P-6” and “SRM” portals of ZTE itself. The tax invoices so generated were to be delivered to the office of ZTE and in return a hand written acknowledgment was received from the executive of ZTE who received the invoice.

iv. The Respondent-ZTE has generally made either part payments against the invoices raised or delayed the payment on the pretext that the invoices are not satisfactory; and that as such certain amounts has remained due and payable at all times since 2012. The TVS has addressed innumerable emails in regard to pending payments and ZTE has replied to most of them wherein they have acknowledged the debt/part payment against the invoices raised by TVS; that despite multiple reconciliations over time, ZTE kept delaying payments and raise