# In the matter of Canbuild Precast Solutions India Private Limited C.P.No.IB-599-(ND)-2017

> NCLT judgment dated 2018-04-09. Citation: TCN-2018-NCLT-01577. Navin Heavy Lifters filed a petition under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 9 Apr 2018
- **Citation:** TCN-2018-NCLT-01577
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/canbuild-precast-solutions-india-private-limited-cpnoib-599-nd-2017-a17df18a

## Summary

### Background

Navin Heavy Lifters filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Canbuild Precast Solutions India Private Limited, claiming default in payment for services rendered. Navin Heavy Lifters, an operational creditor, provided cherry-pickers and scissor-lifters for Canbuild's project at Airport Terminal 2, Mumbai. The operational creditor claimed that payments amounting to Rs. 27,65,851/- became due on 31.03.2016, and the corporate debtor delayed payments. The operational creditor also sought interest at 18% p.a. from the due date of invoices.

## Facts

Navin Heavy Lifters (Operational Creditor) provided cherry-pickers and scissor-lifters to Canbuild Precast Solutions India Pvt. Ltd. (Corporate Debtor) for a project at Airport Terminal 2, Mumbai. Three work orders were issued by the Corporate Debtor, with two dated 26.07.2012 and another dated 22.08.2012. Services were availed until 08.07.2013. Payments amounting to Rs. 27,65,851/- became due on 31.03.2016. The Corporate Debtor acknowledged the debt on 19.10.2013 and in an email dated 18.11.2013. Part payments were made, with the last payment on 12.03.2015. Legal notices were issued on 24.06.2016, 21.09.2016, and 19.12.2016. A statutory demand notice was issued on 11.05.2017 and received by the Corporate Debtor on 15.05.2017. The Corporate Debtor refused to accept

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## Issues and analysis

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

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

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**Reasoning:** The Tribunal noted that the Corporate Debtor had defaulted in payment of debt to the

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

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**Application:** The Tribunal found that the Operational Creditor had met the requirements of

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## Parties

- **Judges:** R. VARADH…; V.K. SUB…
- **Appellants:** NAVIN HEAVY…
- **Respondents:** CANBUILD PRECAST…
- **Advocates:** Udita S…; Aditya…

## Timeline

- **2012-07-26 — Work Orders…**: Corporate Debtor issued two work…
- **2012-08-22 — Work Order…**: Corporate Debtor issued another…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14(1) — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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