# In the matter of Aadhaar Shri Infratech Private Limited C.P. No. IB-179-(ND)-2019

> NCLT judgment dated 2019-07-11. Citation: TCN-2019-NCLT-02564. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 11 Jul 2019
- **Citation:** TCN-2019-NCLT-02564
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aadhaar-shri-infratech-private-limited-cp-no-ib-179-nd-2019-c7471f4c

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Green Edge Buildtech LLP (Operational Creditor/Applicant) against Aadhar Shri Infratech Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for fly ash bricks supplied. The Corporate Debtor acknowledged the debt but claimed settlement through the transfer of a flat in the Gayatri Life project.

## Facts

Green Edge Buildtech LLP (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Aadhar Shri Infratech Private Limited (Corporate Debtor) for defaulting on payments for fly ash bricks. The Operational Creditor claimed that the Corporate Debtor had ordered fly ash bricks worth Rs. 19,82,355/- and had only paid Rs. 10,70,367/- until November 2018, leaving a balance of Rs. 11,48,606/-. A statutory demand notice was issued on 26.12.2018. The Corporate Debtor claimed that the debt was settled through the transfer of a flat in the Gayatri Life project, but no settlement agreement was filed. The allotment letter for the flat was in the name of Nikunj Jain and Anil Kumar Jain, partners of the Operational Creditor, in

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted on …

**Ratio:** Section 9(5) of the Insolvency and Bankruptcy Code, 2016 allows for the admission of an

…

**Reasoning:** The court found that the Corporate Debtor had not fully paid for the fly ash bricks

…

**Interpretation:** Section 9(5) requires the existence of a debt and a default for the application

…

**Application:** The court applied Section 9(5) to the facts, noting the unpaid invoices and the

…

## Parties

- **Judges:** R. VARADH…; DeepaKr…
- **Appellants:** Green Edge…
- **Respondents:** ADHAR SHRI…

## Timeline

- **2018-11-01 — Payment by Corporate…**: Corporate Debtor made a payment of Rs. 10,70,367/- to the Operational Creditor till…
- **2018-12-26 — Statutory Dema…**: A statutory demand notice was…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/aadhaar-shri-infratech-private-limited-cp-no-ib-179-nd-2019-c7471f4c