# In the matter of G.T. Polymers Vs. Keshava Medi Devices Pvt. Ltd. A(AT)(Ins)No. 1266 of 2019

> NCLAT judgment dated 2020-06-03. Citation: TCN-2020-NCLAT-00243. G.T. Polymers, an operational creditor, filed an application under Section 9 of the…

- **Court:** NCLAT
- **Order date:** 3 Jun 2020
- **Citation:** TCN-2020-NCLAT-00243
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/gt-polymers-vs-keshava-medi-devices-pvt-ltd-a-05487320

## Summary

### Background

G.T. Polymers, an operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code (I&B Code) against Keshava Medi Devices Pvt. Ltd., the corporate debtor, for an outstanding operational debt. The Adjudicating Authority (National Company Law Tribunal) Amrawati, Bench at Hyderabad rejected the application on 30.09.2019, stating that the claim fell within the ambit of a disputed claim. G.T. Polymers then appealed this decision. The appellant claimed to have supplied goods between 30.08.2016 and 20.12.2016, raising 5 invoices amounting to Rs. 23,22,537/-. The respondent allegedly sent a balance confirmation on 31.08.2018 but did not honor the invoices. The appellant issued a demand notice on 07.09.2018 under Section 8(1) of the

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## Facts

G.T. Polymers (Appellant) supplied goods to Keshava Medi Devices Pvt. Ltd. (Respondent/Corporate Debtor) between 30.08.2016 and 20.12.2016, raising 5 invoices totaling Rs. 23,22,537/-. The Respondent allegedly sent a balance confirmation on 31.08.2018 promising payment but failed to honor the invoices. The Appellant issued a demand notice on 07.09.2018 under Section 8(1) of the I&B Code for Rs. 31,73,578/- (including interest). The Respondent replied on 05.10.2018, disputing the claim and the genuineness of the balance confirmation. The Respondent filed a civil suit in Chennai on 08.11.2018, seeking a declaration of no outstanding dues. The Respondent claimed to have made payments of Rs. 3,05,395/- on 25.07.2017 and Rs. 5 Lakh on 15.12.2017 against outstanding

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## Issues and analysis

### Issue 1: Whether there is an 'Operational Debt' as defined exceeding Rs. 1 Lakh under Section 4 of the …

**Ratio:** The Hon'ble Supreme Court in Mobilox Innvations Pvt. Ltd. Vs. Kirussa Software Pvt. Ltd.

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**Reasoning:** The tribunal examined the application and found that the appellant had supplied goods to

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**Interpretation:** This issue concerns the fundamental requirement for initiating insolvency

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**Application:** The tribunal found that the appellant had presented evidence of invoices and a

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## Parties

- **Judges:** Jarat Kuma…; Balvinder…; +1 more
- **Appellants:** G. T. POL…
- **Respondents:** KESHAVA MEDI…

## Timeline

- **2016-08-30 — Goods Sup…**: Appellant supplied goods to the…
- **2016-12-20 — Goods Sup…**: Appellant supplied goods to the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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