# In the matter of Black Diamond Pulses Private Limited Company Petition No. IB-543-ND-2019

> NCLT judgment dated 2019-11-07. Citation: TCN-2019-NCLT-00676. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 7 Nov 2019
- **Citation:** TCN-2019-NCLT-00676
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/black-diamond-pulses-private-limited-company-petition-no-ib-543-nd-2019-5e17e27e

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Avneet Goyal, the operational creditor and sole proprietor of M/s R.B. Enterprises, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Black Diamond Pulses Private Limited, the corporate debtor. The applicant claimed that the corporate debtor failed to pay outstanding dues for the supply of Dal Masoor, despite receiving the goods and invoices. The corporate debtor contested the claim, alleging that no purchase order was placed, no goods were supplied, and there was no contract between the parties. The corporate debtor also claimed that the invoices and legal notice were issued on the same date, and there was no agreement regarding the payment

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## Facts

Avneet Goyal, the operational creditor and sole proprietor of M/s R.B. Enterprises, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s Black Diamond Pulses Private Limited, the corporate debtor. The applicant claimed that the corporate debtor approached them for the purchase of Dal Masoor, and it was orally agreed that payment would be made promptly upon receiving the goods and invoices. The corporate debtor placed two purchase orders, and the applicant supplied the goods on a credit basis, raising invoices totaling Rs. 12,67,130/-. The goods were delivered and received without any demur. Upon failure to pay, the applicant sent a demand notice dated 18.07.2018 under Section 8 of the IBC, demanding payment of

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## Issues and analysis

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

**Ratio:** The application under Section 9 of the IBC can be admitted if the operational creditor

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**Reasoning:** The court found that the applicant had placed on record all the tax invoices and proof of

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**Interpretation:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a

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

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## Parties

- **Judges:** DEEPTI M…; HEMANT KUMAR…
- **Appellants:** Avneet…
- **Respondents:** M/s BLACK DIAMOND…

## Timeline

- **2008-04-29 — Incorporation of…**: M/s Black Diamond Pulses Private Limited…
- **2018-07-17 — Invoice…**: Invoice No. 1679 raised…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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