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Date of Hearing: 07.07.2026 Date of Order:10.08.2026 In the Matter of:

INGRAM MICRO INDIA PRIVATE LIMITED, registered office at Fifth Floor, Empire Plaza, Building A, LBS Marg, Vikhroli West, Mumbai, Maharashtra –

400083.

APPLICANT/OPERATIONAL CREDITOR Versus PLANET INFRASTRUCTURE MANAGEMENT PRIVATE LIMITED, registered office at 1803, 18^th Floor, Martin Burn Business Park, BP – 3, Salt Lake, Sector – V, Kolkata – 700091.

RESPONDENT/CORPORATE DEBTOR CORAM:

Shri. Labh Singh, Hon’ble Member (Judicial)

Ms. Rekha Kantilal Shah, Hon’ble Member (Technical)

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Present:

For the Applicant. : Mr. Kedar Wagle, Ld. Advocate.

Mr. Sujit Kumar Keshari, Ld. Advocate.

For the Respondent.: Mr. Debangshu Dinda, Ld. Advocate.

Ms. Vanshikha Newar, Ld. Advocate.

O R D E R

Labh Singh Member(Judicial)

1. This Company Petition has been filed by Ingram Micro India Limited, (hereinafter being referred to as “applicant/Operational Creditor”) seeking initiation of CIRP against M/s Planet Infrastructure Private Limited, the Respondent Company/Corporate Debtor (hereinafter to be referred as “Corporate Debtor”) under Section 9 of Insolvency and Bankruptcy Code, 2016 (for short ‘the Code’) for the alleged default on the part of the Corporate Debtor having an outstanding balance of Rs. 6,74,66,955.99/- on account of supply of products of Original Equipment Manufacturer (OEM’s) and provided by the OEM to the Corporate Debtor.

2. Briefly stated that facts of the applicant case is that the applicant is a leading distributor of IT hardware and software products including all telecommunication equipment and also provides training, warehousing and other allied services.

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2.1. The applicant, for supply of products, raised invoices upon the Corporate Debtor from time to time which are as follows, the copies of the invoices are annexed as Annexures 3, 4, 5 and 6:

2.2. The applicant had repeatedly followed up with for the payment whereupon the Corporate Debtor had assured that the funds were expected from the clients by June 2024 and as and when received, the due payment would be disbursed within a period of one week, by July 2024. A copy of the email dated

28.05.2024 is annexed as Annexure – 7.

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2.3. It is submitted that against the outstanding amount of Rs.

14.17 crores as on 15.04.2024, the payment was made time to time, leaving a balance of Rs. 4,95,82,228.99. Further, vide an email dated 16.04.2025, the Corporate Debtor acknowledged the balance due amount to the extent of Rs. 5,35,82,228.99 as on 08.04.2025 and assured that the dues will be settled. A copy of the email dated 16.04.2025 is annexed as Annexure – 8.

2.4. It is submitted that vide the email dated 15.07.2025, the Corporate Debtor confirmed the due balance amount of Rs. 4,95,82,228.99 whereas the balance amount as reflected on the ledger was Rs. 4,95,69,764.03.

2.5. The applicant received a cheque, bearing No. 008304 dated

04.08.2025 for an amount of Rs. 4,95,82,228/- which was deposited in Axis Bank Ltd., Vikhroli Branch, Mumbai – 400083; however, the said cheque returned dishonoured on 19.08.2025 with an imitation that the account was closed. Subsequently, the applicant sent a demand notice dated 20.08.2025 as per Section 138 of the Negotiable Instruments Act, 1881. A copy of the demand notice is annexed as Annexure – 11.

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2.6. The applicant issued Demand Notice, in Form – 4, under Section 8 of the Code on 07.10.2025, duly served at the registered office of the Corporate Debtor on 22.10.2025 and to other known addresses of the Corporate Debtor. It is further submitted that no payment was made for the default within 10 days. The applicant has filed an affidavit under Section 9(3)(b) and (e) stating that no payment or notice of dispute has been received by the applicant after service of Demand Notice. A copy of the Demand Notice under Section 4 is annexed as Annexure – B. A copy of the affidavit stating that no payment or demand notice received is annexed as Pages 75 – 81.

3. The

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