# In the matter of Dharma Extrusions Private Limited CP (IB) 334-NCLT-AHM-2022

> NCLT judgment dated 2023-06-06. Citation: TCN-2023-NCLT-05492. The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read…

- **Court:** NCLT
- **Order date:** 6 Jun 2023
- **Citation:** TCN-2023-NCLT-05492
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/dharma-extrusions-private-limited-cp-ib-334-nclt-ahm-2022-53c1fb07

## Summary

### Background

The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Rekha Pankaj Maheshwari, proprietor of M/s. Laxmiraj Alloys, seeking to initiate the Corporate Insolvency Resolution Process against M/s. Dharma Extrusion Private Limited.

## Facts

The application was filed on 28.11.2022 under Section 9 of the Insolvency and Bankruptcy Code, 2016.

Rekha Pankaj Maheshwari, proprietor of M/s. Laxmiraj Alloys, is the applicant.

Dharma Extrusion Private Limited is the corporate debtor.

The applicant claimed a total debt of Rs. 1,26,69,462/- including interest.

Demand notices in Form 3 and Form 4 were issued on 25.10.2022.

The corporate debtor admitted the debt in a reply dated 08.11.2022.

The date of default was 13.10.2022.

The registered office of the corporate debtor is in Panchmahals District, Gujarat.

Mr. Hitesh Narayanbhai Agarwal was appointed as the Interim Resolution Professional (IRP).

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC, 2016 is complete and meets the required …

**Ratio:** Section 9(5) of IBC,

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**Reasoning:** The Tribunal observed that the application was complete and met the threshold required

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**Interpretation:** The application fulfilled all the necessary requirements as per Section 9 of

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**Application:** The application was admitted, and

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## Parties

- **Judges:** Deep Chandr…; Ajai Das Me…
- **Appellants:** Rekha Pankaj…
- **Respondents:** Dharma Extrusions…
- **Other parties:** Hitesh Narayanbhai…
- **Advocates:** Sahil…; Nishit…

## Timeline

- **2022-11-28 — Application…**: The application under…
- **2022-10-25 — Demand Notice…**: Demand notices in Form 3 and Form 4…

## 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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