# In the matter of Alaska Fabtech Pvt. Ltd.  CP (IB) No. 347-Chd-Pb-2019

> NCLT judgment dated 2021-12-22. Citation: TCN-2021-NCLT-00068. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 22 Dec 2021
- **Citation:** TCN-2021-NCLT-00068
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/alaska-fabtech-pvt-ltd-cp-ib-no-347-chd-pb-2019-ac80e295

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s R.K. Satyam Dyes & Chemicals, an operational creditor, against M/s Alaska Fabtech Pvt. Ltd., the corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The petitioner claims that the corporate debtor defaulted in paying an operational debt of Rs. 1,88,150/- for chemicals and dyes supplied. Despite several opportunities, the corporate debtor did not appear or file a reply. The petitioner served a demand notice dated 02.05.2019 under Section 8 of the IBC, 2016, which was duly received by the corporate debtor.

## Facts

M/s R.K. Satyam Dyes & Chemicals, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Alaska Fabtech Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor owed Rs. 1,88,150/- for chemicals and dyes supplied, based on an invoice dated 24.08.2017. A demand notice was issued on 02.05.2019 under Section 8 of the IBC, 2016, and duly received by the corporate debtor. The corporate debtor did not raise any dispute or make any payment. The corporate debtor's registered office is in Bathinda, Punjab. The petition was filed on 06.06.2019, within the period of limitation. The corporate debtor failed to appear or file a reply despite several opportunities. The petitioner filed

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 is complete and …

**Ratio:** Section 9(5) of the IBC, 2016 states that if the Adjudicating Authority is satisfied that

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**Reasoning:** The court found that the petition was complete in all respects and that the material on

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**Interpretation:** Section 9 of the IBC, 2016 allows an operational creditor to initiate CIRP

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**Application:** The court applied the provisions of Section 9 of the IBC, 2016 to the facts of

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** M/s R.K. Satyam…
- **Respondents:** M/s Alaska…

## Timeline

- **2017-08-24 — Invoice…**: Invoice dated 24.08.2017 was raised on the…
- **2019-05-02 — Demand Noti…**: Demand notice dated 02.05.2019 was issued under Section 8 of the Insolvency and…

## 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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