# In the matter of Aryan Infraprojects Limited TP No. 03-CTB-2019 in CP(IB)No. 197-KB-2019

> NCLT judgment dated 2019-11-14. Citation: TCN-2019-NCLT-00599. The case involves an application filed by M/s. Prism Johnson Limited [RMC (INDIA) Division],…

- **Court:** NCLT
- **Order date:** 14 Nov 2019
- **Citation:** TCN-2019-NCLT-00599
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aryan-infraprojects-limited-tp-no-03-ctb-2019-in-cpibno-197-kb-2019-352efdf7

## Summary

### Background

The case involves an application filed by M/s. Prism Johnson Limited [RMC (INDIA) Division], the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Aryan Infraprojects Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for Ready-Mix Concrete supplied under purchase orders dated 18.09.2013 and 20.10.2013. The application was initially filed before the NCLT Kolkata Bench and later transferred to the Cuttack Bench.

## Facts

M/s. Prism Johnson Limited [RMC (INDIA) Division] (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Aryan Infraprojects Limited (Corporate Debtor) for defaulting on payments. The Corporate Debtor placed purchase orders on 18.09.2013 and 20.10.2013 for 144CUM and 72CUM of Ready-Mix Concrete. The Operational Creditor supplied the materials under three invoices: Invoice No. 000434 dated 24.09.2013 for Rs. 2,88,001, Invoice No. 000446 dated 27.09.2013 for Rs. 2,96,000, and Invoice No. 000504 dated 23.10.2013 for Rs. 2,92,000. Last supplies were made on 22.10.2013, and the last payment was made on 01.11.2018 for Rs. 20,000. After adjustments, the Corporate Debtor owed Rs. 6,35,633 towards the principal

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor is maintainable under Section 9 of the …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016 allows an operational creditor to

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**Reasoning:** The court found that the Operational Creditor had provided sufficient evidence, including

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover outstanding

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**Application:** The court applied Section 9 to the facts of the case, finding that the

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## Parties

- **Judges:** Sucharit…; Satya Ranjan…
- **Appellants:** M/s. Prism…
- **Respondents:** M/s. Aryan…

## Timeline

- **2013-09-18 — Purchase…**: Corporate Debtor placed purchase order…
- **2013-09-20 — Purchase…**: Corporate Debtor placed purchase order…

## 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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