# In the matter of Apex Consumer Appliances Private Limited C.P. No. 3456-IBC-MB-2019

> NCLT judgment dated 2021-07-29. Citation: TCN-2021-NCLT-01552. Omega Corrugators Private Limited, the Operational Creditor, filed a company petition under…

- **Court:** NCLT
- **Order date:** 29 Jul 2021
- **Citation:** TCN-2021-NCLT-01552
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/apex-consumer-appliances-private-limited-cp-no-3456-ibc-mb-2019-ad2a18d2

## Summary

### Background

Omega Corrugators Private Limited, the Operational Creditor, filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Apex Consumer Appliances Private Limited, the Corporate Debtor, alleging default in payment for materials supplied. The Operational Creditor claimed a principal amount of Rs. 64,54,046/- along with interest of Rs. 10,72,623/-, totaling Rs. 75,26,669/-.

## Facts

Omega Corrugators Private Limited (Operational Creditor) filed a petition against Apex Consumer Appliances Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default in payment. The Operational Creditor supplied materials to the Corporate Debtor based on purchase orders. The Corporate Debtor allegedly failed to pay a principal amount of Rs. 64,54,046/- along with interest, totaling Rs. 75,26,669/-. The Corporate Debtor acknowledged the debt in their books of accounts for the period of 01.04.2017-31.03.2018, 01.04.2018-31.03.2019, 01.04.2019-19.07.2019. The Operational Creditor issued a demand notice on 13.08.2019. The Corporate Debtor contested the claim, alleging uncertified invoices, higher prices, and defective

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## Issues and analysis

### Issue 1: Whether there is a pre-existing …

**Ratio:** A pre-existing dispute must be raised before the issuance of a demand notice by the

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**Reasoning:** The Adjudicating Authority observed that the Corporate Debtor did not raise any issues

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**Interpretation:** The court interpreted that the failure to raise a dispute before the demand

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**Application:** The Corporate Debtor's failure to raise any dispute regarding the invoices or

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## Parties

- **Judges:** H.V. Subb…; Chandra Bha…
- **Appellants:** Omega Corrugators…
- **Respondents:** Apex Consumer…

## Timeline

- **2019-08-13 — Demand Notice…**: Operational Creditor issued a legal Demand Notice to the Corporate Debtor in Form-3 &…
- **2020-02-12 — Settlement…**: Counsel appearing for the Corporate Debtor and Operational Creditor appeared before the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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