# In the matter of Arm Winsys Tech Private Limited Company Petition (IB)No. 376-ALD-2019

> NCLT judgment dated 2021-01-28. Citation: TCN-2021-NCLT-03205. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 28 Jan 2021
- **Citation:** TCN-2021-NCLT-03205
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/arm-winsys-tech-private-limited-company-petition-ibno-376-ald-2019-ba0d18da

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Ridhi Sidhi Glasses (India) Pvt. Ltd, an operational creditor, against Arm Winsys Tech Pvt. Ltd, the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The operational creditor claims that the corporate debtor failed to pay for the supply of goods, specifically laminated safety polish glass, frosted glass, and clear tough glass, delivered between 2016 and 2017.

## Facts

Ridhi Sidhi Glasses (India) Pvt. Ltd. (Operational Creditor) supplied laminated safety polish glass, frosted glass, and clear tough glass to Arm Winsys Tech Pvt. Ltd. (Corporate Debtor) from 2016-12-13 to 2017-09-28. Invoices were raised for these supplies. The Corporate Debtor did not dispute the quantity or quality of the goods at the time of delivery. However, the Corporate Debtor failed to pay the invoiced amount. The Operational Creditor issued a demand notice under Section 8 of the IBC, 2016, on 2019-06-25, demanding Rs. 11,38,726/- plus 18% interest, totaling Rs. 15,81,012/-, which was received by the Corporate Debtor. The Corporate Debtor neither paid the debt nor responded to the demand notice. The Operational Creditor then filed a petition under Section 9 of

…

## Issues and analysis

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

**Ratio:** Section 9(5) of the IB Code outlines the conditions for admitting an application for

…

**Reasoning:** The court considered the provisions of Section 9(5) of the IB Code and determined that

…

**Interpretation:** Section 9(5) is interpreted to mean that if all the conditions specified

…

**Application:** In this case, the operational creditor demonstrated that the application was

…

## Parties

- **Judges:** Rajesh Daya…
- **Appellants:** M/S RIDHI SIDHI…
- **Respondents:** M/S ARM WINSYS…

## Timeline

- **2016-12-13 — Supply of Good…**: Ridhi Sidhi Glasses (India) Pvt. Ltd. started…
- **2017-09-28 — Supply of Goo…**: Ridhi Sidhi Glasses (India) Pvt. Ltd. completed the supply of goods to Arm Winsys Tech…

## 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/arm-winsys-tech-private-limited-company-petition-ibno-376-ald-2019-ba0d18da