# In the matter of Chaitra Glaze Pvt. Ltd. C.P.(IB)No.190-BB-2019

> NCLT judgment dated 2019-11-27. Citation: TCN-2019-NCLT-00425. M/s.Fuso Glass India Pvt. Ltd. filed C.P.(IB)No.190/BB/2019 under Section 9 of the Insolvency…

- **Court:** NCLT
- **Order date:** 27 Nov 2019
- **Citation:** TCN-2019-NCLT-00425
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/chaitra-glaze-pvt-ltd-cpibno190-bb-2019-9ed3ab29

## Summary

### Background

M/s.Fuso Glass India Pvt. Ltd. filed C.P.(IB)No.190/BB/2019 under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 6 of the I&B (AAA) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s.Chitra Glaze Pvt. Ltd. The petitioner claimed that the corporate debtor defaulted on a total amount of Rs. 23,99,599/-. The petitioner, an operational creditor, is engaged in the business of manufacturing and selling glasses. The respondent, the corporate debtor, is engaged in the business of selling glasses. The petitioner dispatched glasses to the respondent from 2011-05-20 to 2011-08-27. The respondent made some payments but failed to pay the outstanding amount after 2018.

## Facts

M/s.Fuso Glass India Pvt. Ltd. (the 'Petitioner/Operational Creditor') filed a petition against M/s.Chitra Glaze Private Limited (the 'Respondent/Corporate Debtor') under Section 9 of the IBC, 2016. The petitioner is engaged in the business of manufacturing and selling glasses. The respondent was incorporated on 2005-02-04. The petitioner claimed that the respondent defaulted on a total amount of Rs. 23,99,599/-. The petitioner dispatched glasses to the respondent from 2011-05-20 to 2011-08-27. The respondent received the goods with invoices containing stipulations regarding payment interest and disputes. The respondent made some payments but failed to pay the outstanding amount after 2018. The petitioner issued a demand notice on 2018-04-05, but the respondent failed

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor is in accordance with the provisions of …

**Ratio:** Section 9 of the IBC, 2016, allows an operational creditor to initiate CIRP against a

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**Reasoning:** The court observed that the application was filed strictly in accordance with the extant

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**Interpretation:** Section 9 of IBC provides the requirements and procedure for an operational

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**Application:** The court found that the application met the requirements of Section 9, as the

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## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** M/s. Fuso Glass…
- **Respondents:** M/s.Chitra Glaze…

## Timeline

- **2011-05-20 — Goods Dispatc…**: The Petitioner dispatched…
- **2011-08-27 — Goods Dispa…**: The Petitioner dispatched…

## 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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