# In the matter of Anushka Moulds and Dies Private Limited CP (IB) No.4167-MB.II/-2019

> NCLT judgment dated 2020-10-16. Citation: TCN-2020-NCLT-00365. Purohit Steel India Private Limited, the Operational Creditor, filed a petition under Section 9…

- **Court:** NCLT
- **Order date:** 16 Oct 2020
- **Citation:** TCN-2020-NCLT-00365
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/anushka-moulds-and-dies-private-limited-cp-ib-no4167-mbii-2019-7cf86ea6

## Summary

### Background

Purohit Steel India Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Anushka Moulds and Dies Private Limited, the Corporate Debtor, for failing to pay a debt of ₹18,82,421.00. The Corporate Debtor is a private company limited by shares and incorporated on 31.03.2010. The Operational Creditor claimed to have supplied alloy steel bars and provided machining and grinding services to the Corporate Debtor based on purchase orders. A demand notice was served to the Corporate Debtor, and the Corporate Debtor admitted the liability in its affidavit in reply dated 03.03.2020, but stated it was unable to pay due to financial crises and

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## Facts

Purohit Steel India Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Anushka Moulds and Dies Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of ₹18,82,421.00, which was the principal amount due as of 08.06.2019. The Operational Creditor supplied alloy steel bars and provided machining and grinding services to the Corporate Debtor based on purchase orders. The Operational Creditor served a demand notice dated 22.08.2019 to the Corporate Debtor. The Corporate Debtor admitted the liability in its affidavit in reply dated 03.03.2020, but stated that it was unable to pay due to financial crises and closure of operations. The

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## 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 Rule 6(1) of the Insolvency and Bankruptcy (Application to

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**Reasoning:** The Adjudicating Authority examined the application and found that it met all the legal

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**Interpretation:** The completeness of the application is a prerequisite for its admission. The

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**Application:** The Adjudicating Authority determined that the application was complete,

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Purohit Steel…
- **Respondents:** Anushka Moulds…

## Timeline

- **2010-03-31 — Incorporation of…**: Anushka Moulds and Dies…
- **2019-06-08 — Date of D…**: The date of default is…

## 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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