# In the matter of OFB Tech Private Limited

> NCLT judgment dated 2025-07-31. Citation: TCN-2025-NCLT-01138. Maverick Developers & Colonisers Pvt. Ltd filed a petition under Section 9 of the Insolvency…

- **Court:** NCLT
- **Order date:** 31 Jul 2025
- **Citation:** TCN-2025-NCLT-01138
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/ofb-tech-private-limited-e92f405e

## Summary

### Background

Maverick Developers & Colonisers Pvt. Ltd filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against OFB Tech Private Limited for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt.

## Facts

Maverick Developers & Colonisers Pvt. Ltd. (Operational Creditor) filed a petition on 13.12.2024 against OFB Tech Private Limited (Corporate Debtor) under Section 9 of IBC, 2016.

The Operational Creditor claimed a default of Rs.3,84,15,428/- including interest, with the date of default stated as 31.08.2021 and 27.10.2023.

The Operational Creditor is engaged in the construction industry and sought to procure round HDPE pipes from the Corporate Debtor.

The Corporate Debtor is engaged in the business of retail supply of round HDPE pipes under the make 'Giga'.

The Operational Creditor issued two purchase orders to the Corporate Debtor for HDPE pipes.

…

## Issues and analysis

### Issue 1: Whether a pre-existing dispute exists between the Operational Creditor and the Corporate Debtor as …

**Ratio:** The Tribunal finds no pre-existing

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**Reasoning:** The Corporate Debtor's set-off is unsupported by evidence linking the Operational

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**Interpretation:** The term 'dispute' requires a plausible contention that necessitates further

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**Application:** The Tribunal applied the principle from Mobilox Innovations Private Limited v.

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## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** Maverick Developer…; M/s Maverick…; +1 more
- **Respondents:** OFB Tech Private…
- **Other parties:** Vivek…; Nimai Gauta…
- **Advocates:** Dhaval…; Saumitra Chaturved…; +4 more

## Timeline

- **2024-12-13 — Petition…**: Maverick Developers & Colonisers Pvt. Ltd filed a petition under Section 9 of the IBC,…
- **2025-01-26 — Reply Fi…**: OFB Tech Pvt. Ltd. filed a…

## 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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