# In the matter of Aadit Metal Trade Private Limited CP No. 4537 (IB)-MB-C-II-2019

> NCLT judgment dated 2021-06-16. Citation: TCN-2021-NCLT-01964. Teevra Impex Private Limited, the Operational Creditor, filed a Company Petition under Section…

- **Court:** NCLT
- **Order date:** 16 Jun 2021
- **Citation:** TCN-2021-NCLT-01964
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aadit-metal-trade-private-limited-cp-no-4537-ib-mb-c-ii-2019-4e5fc87e

## Summary

### Background

Teevra Impex Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Aadit Metal Trade Private Limited, the Corporate Debtor. The petition was filed due to the Corporate Debtor's failure to pay a sum of Rs. 32,32,708. The Operational Creditor had raised two invoices for the supply of TMT/Round Bars amounting to Rs. 85,76,908. The invoices became due after seven days, but the Operational Creditor agreed to an extended period of 60 days. Default started from 05.08.2019. The Corporate Debtor failed to pay the dues despite a final notice. The Corporate Debtor requested to withdraw the notice without any concrete proposal of payment.

## Facts

Teevra Impex Private Limited (Operational Creditor) filed a petition against Aadit Metal Trade Private Limited (Corporate Debtor) under Section 9 of the IBC, seeking to initiate CIRP due to unpaid dues of Rs. 32,32,708. The debt arose from two invoices totaling Rs. 85,76,908 for the supply of TMT/Round Bars. The payment was initially due after seven days from the invoice date, but the Operational Creditor granted an extension of 60 days, making the default date 05.08.2019. Despite a final notice, the Corporate Debtor failed to make the payment and requested the Operational Creditor to withdraw the notice without offering any concrete payment proposal. The petition was filed on 13.12.2019. The Corporate Debtor acknowledged the liability in its reply to the demand notice

…

## Issues and analysis

### Issue 1: Whether the application made by the Operational Creditor is complete in all respects as required by …

**Ratio:** Section 9 of the IBC and related rules specify the requirements for an application to

…

**Reasoning:** The Adjudicating Authority examined the application and found it to be complete in all

…

**Interpretation:** The completeness of the application is a prerequisite for the Adjudicating

…

**Application:** The application by Teevra Impex Private Limited was found to be complete,

…

## Parties

- **Judges:** H.V. Subb…; RavikumarDu…
- **Appellants:** Teevra Impex…
- **Respondents:** Aadit Metal Trade…; Aart…

## Timeline

- **2004-04-23 — Incorporation of…**: Aadit Metal Trade Private Limited…
- **2019-06-04 — Invoice R…**: Operational Creditor raised…

## 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/aadit-metal-trade-private-limited-cp-no-4537-ib-mb-c-ii-2019-4e5fc87e