# Rakesh Dalpatram Panchal vs. M/s. Kisaan Steels Pvt. Ltd. & Anr.

> NCLAT judgment dated 2026-05-11. Citation: TCN-2026-NCLAT-00197. Rakesh Dalpatram Panchal, Ex-Director of M/s Gemini Engi. Fab. Private Limited (Corporate…

- **Court:** NCLAT
- **Order date:** 11 May 2026
- **Citation:** TCN-2026-NCLAT-00197
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rakesh-dalpatram-panchal-vs-ms-kisaan-steels-pvt-ltd-anr-cr415

## Summary

### Background

Rakesh Dalpatram Panchal, Ex-Director of M/s Gemini Engi. Fab. Private Limited (Corporate Debtor), filed an appeal against the NCLT's order dated 24.03.2025, which admitted a Section 9 application filed by M/s. Kisaan Steels Pvt. Ltd. (Operational Creditor). The appellant contended that there were pre-existing disputes regarding the quality of goods and delivery delays, and that an email relied upon by the NCLT was misinterpreted as an admission of liability, being conditional upon account reconciliation.

## Facts

Rakesh Dalpatram Panchal, Ex-Director of M/s Gemini Engi. Fab. Private Limited (Corporate Debtor), filed an appeal against the NCLT order dated 24.03.2025.

The NCLT order admitted a Section 9 application filed by Respondent No.1 (M/s. Kisaan Steels Pvt. Ltd.) against the Corporate Debtor.

The Corporate Debtor and Respondent No.1 entered into several purchase orders between December 2021 and June 2022 for the supply of forgings and other materials.

The Appellant claimed that Respondent No.1 failed to adhere to delivery timelines and supplied defective goods, leading to multiple disputes.

The Appellant claimed to have imposed penalties on Respondent No.1 for its breaches, and account reconciliation was ongoing.

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## Issues and analysis

### Issue 1: Whether there was a pre-existing dispute regarding the quality of goods and delivery delays before …

**Ratio:** An operational creditor's application for CIRP must be dismissed if there is a

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**Reasoning:** The Appellant claimed Respondent No.1 failed on delivery and supplied defective goods,

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**Interpretation:** The NCLAT interpreted the Corporate Debtor's preparation of a 'consequence

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**Application:** The NCLAT applied the principle that a dispute must be genuine and

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## Parties

- **Judges:** N. Sesha…; Arun Ba…; +1 more
- **Appellants:** Rakesh Dalpatram…
- **Respondents:** M/s Gemini Engi.…; M/s. Kisaan…; +1 more
- **Advocates:** Gopal…; Mahesh Ag…; +10 more

## Timeline

- **2017-05-16 — Acknowledgement…**: Respondent No. 1 acknowledged delay…
- **2021-12-01 — Start of Purcha…**: Corporate Debtor and Respondent No.1 entered into several purchase orders for supply of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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