# Chemical Suppliers India Private Limited vs. Kanodia Technoplast Limited

> NCLAT judgment dated 7 Jan 2026. Citation: TCN-2026-NCLAT-00008. The appeal arises from an order dated 12.06.2025 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 7 Jan 2026
- **Citation:** TCN-2026-NCLAT-00008
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/chemical-suppliers-india-private-limited-vs-kanodia-technoplast-limited-f7a4eac7

## Summary

### Background

The appeal arises from an order dated 12.06.2025 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench-IV) in C.P. (IB) No. 734/ND/2021, dismissing a Section 9 application filed by the Appellant, Chemical Suppliers India Pvt. Ltd.

## Facts

Chemical Suppliers India Private Limited (Appellant) filed an appeal against the order of the Adjudicating Authority.

The Adjudicating Authority dismissed the Section 9 application filed by the Appellant.

The Appellant claimed that Kanodia Technoplast Limited (Respondent) failed to pay an outstanding amount of Rs 7,84,94,085/-.

The outstanding amount included a principal component of Rs 6,13,26,856/- and an interest component of Rs 1,71,67,229/-.

The Appellant filed C.P. No. 734 of 2021 under Section 9 on 22.11.2021 to initiate CIRP against the Respondent.

The Adjudicating Authority dismissed the Section 9 application on 16.10.2023 due to non-maintainability under Section 10-A of IBC.

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in …

**Ratio:** The decision of the Operational Creditor not to accept the payment proposal of the

…

**Reasoning:** The tribunal held that the operational creditor could not claim that there were other

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**Interpretation:** Section 9 of the IBC

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**Application:** The Corporate Debtor had offered to pay the entire amount of Rs 1.65 Cr. by way

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Chemical Suppliers…
- **Respondents:** Kanodia Technoplas…
- **Other parties:** Insolvency and…; Corporate…; +6 more

## Timeline

- **2021-11-22 — Filing of CP No. 734 of…**: The Appellant filed C.P No. 734 of 2021 under Section 9 to initiate CIRP against the…
- **2023-10-16 — Dismissal of Section 9…**: The Adjudicating Authority dismissed the Section 9 application due to non-maintainability…

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