# In the matter of Carbontree Industries Private Limited CP (IB) 1972-MB-C-IV-2019

> NCLT judgment dated 2019-12-03. Citation: TCN-2019-NCLT-00355. This is a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 3 Dec 2019
- **Citation:** TCN-2019-NCLT-00355
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/carbontree-industries-private-limited-cp-ib-1972-mb-c-iv-2019-73073394

## Summary

### Background

This is a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by The Shop, the Operational Creditor, against Carbontree Industries Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that the Corporate Debtor defaulted on a payment of Rs.6,53,000.00, with the date of default being 01.07.2016. The Corporate Debtor is a private company incorporated on 26.05.2009.

## Facts

The Shop, a registered partnership firm, is the Operational Creditor. Carbontree Industries Private Limited is the Corporate Debtor. The Corporate Debtor approached the Operational Creditor for the supply of audio-video systems and allied goods and placed an order on 02.05.2016, making an advance payment of ₹50,000. The Operational Creditor supplied goods on credit and raised invoices and challans from 03.05.2016 to 31.08.2016. The Corporate Debtor accepted the challans. Eight invoices were raised, totaling ₹12,03,000. The Corporate Debtor made two payments: ₹1,50,000 on 20.05.2016 and ₹3,50,000 on 27.06.2016. The total debt due is ₹6,53,000. A Demand Notice was served on 21.01.2019, but the Corporate Debtor did not reply. The petition was filed on 27.05.2019. The

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## Issues and analysis

### Issue 1: Whether the application made by the Operational Creditor is complete in all respects as required by …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6(1) of the

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**Reasoning:** The Adjudicating Authority reviewed the application and found it to be complete in all

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**Interpretation:** The completeness of the application is a prerequisite for the Adjudicating

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**Application:** The application filed by The Shop was deemed complete, satisfying the legal

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** The S…
- **Respondents:** Carbontree…

## Timeline

- **2016-05-02 — Order Pla…**: Corporate Debtor placed an order with the Operational Creditor, making an advance payment…
- **2016-05-03 — First In…**: Operational Creditor raised…

## 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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