# In the matter of Adison Granito Private Limited

> NCLT judgment dated 2025-10-06. Citation: TCN-2025-NCLT-01520. Monte Bianco Diamond Tools Pvt. Ltd. filed a petition under Section 9 of the IBC against Adison…

- **Court:** NCLT
- **Order date:** 6 Oct 2025
- **Citation:** TCN-2025-NCLT-01520
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/adison-granito-private-limited-fff1b455

## Summary

### Background

Monte Bianco Diamond Tools Pvt. Ltd. filed a petition under Section 9 of the IBC against Adison Granito Private Limited for default in payment of operational debt amounting to Rs. 1,68,87,832/- arising from the supply of polishing abrasive and diamond squaring wheels.

## Facts

The petition was filed on 28.03.2025 by Monte Bianco Diamond Tools Pvt. Ltd., an Operational Creditor, against Adison Granito Private Limited, a Corporate Debtor.

The operational debt claimed is Rs. 1,68,87,832/- arising from the supply of polishing abrasive and diamond squaring wheels.

The Corporate Debtor was incorporated on 26.01.2016 under the Companies Act, 2013.

The Operational Creditor was incorporated on 09.08.2010 under the Companies Act, 1956.

The Operational Creditor proposed Mr. Tejas K. Shah as the Interim Resolution Professional (IRP).

The date of default is stated as 23.09.2021, corresponding to the first unpaid invoice.

A demand notice was issued on 03.02.2024, but no reply or payment was received.

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## Issues and analysis

### Issue 1: Whether the Operational Creditor has provided sufficient evidence to substantiate the operational …

**Ratio:** The Adjudicating Authority must be satisfied that a default has occurred and the

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**Reasoning:** The Operational Creditor failed to provide necessary documents, such as bank statements,

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**Interpretation:** The absence of corroborative documents

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**Application:** The application was dismissed as defective because the Operational Creditor did

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## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** Monte Bianco…
- **Respondents:** Adison Granito…; Adison Granito…
- **Other parties:** Girish Babulal…; Tejas K…
- **Advocates:** Sumit P…

## Timeline

- **2025-03-28 — Petition…**: Petition filed by Monte Bianco Diamond Tools Pvt. Ltd. against Adison Granito Private…
- **2025-05-09 — Opportunity…**: An opportunity was granted to file an amended Petition for submission of the requisite…

## 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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