# In the matter of Drulum India Pvt. Ltd. Vs. Sharma Kalypso Pvt. Ltd. CA (AT) No. 351-2018

> NCLAT judgment dated 2018-07-09. Citation: TCN-2018-NCLAT-00216. Drulum India Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the…

- **Court:** NCLAT
- **Order date:** 9 Jul 2018
- **Citation:** TCN-2018-NCLAT-00216
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/drulum-india-pvt-ltd-vs-sharma-kalypso-pvt-ltd-ca-108a44bb

## Summary

### Background

Drulum India Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a corporate insolvency resolution process against Sharma Kalypso Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority (National Company Law Tribunal), Bench III, New Delhi, rejected the application on the ground of 'existence of dispute'.

## Facts

Drulum India Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate corporate insolvency resolution process against Sharma Kalypso Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority (National Company Law Tribunal) rejected the application due to the 'existence of dispute'. The Corporate Debtor contended that goods were not supplied in full as per the purchase order dated 1.6.2017, and supplies were effected beyond the stipulated time. Objections were recorded on the packing list dated 28.6.2017. The Corporate Debtor also claimed manipulation of invoice No. IN1718TDS-046 dated 26.06.2017, with discrepancies in the number of boxes delivered. Documentary evidence was filed to show that goods

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in rejecting the application under Section 9 of the …

**Ratio:** The existence of a genuine dispute between the operational creditor and the corporate

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**Reasoning:** The Adjudicating Authority considered the objections raised by the Corporate Debtor

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**Interpretation:** The 'existence of dispute' clause in the I&B Code is interpreted to mean

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**Application:** The Corporate Debtor's objections regarding the supply of goods were deemed

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** M/s. Drulum India…
- **Respondents:** M/s Sharma…

## Timeline

- **2016-01-01 — Enactment of…**: The Insolvency and…
- **2017-06-01 — Purchase Ord…**: Purchase order dated 1.6.2017, which is…

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