# In the matter of Container Corporation of India Limited (IB)-631(ND) 2018

> NCLT judgment dated 2019-10-15. Citation: TCN-2019-NCLT-00986. The case involves a petition filed by Kohinoor India (P) LTD, an operational creditor, against…

- **Court:** NCLT
- **Order date:** 15 Oct 2019
- **Citation:** TCN-2019-NCLT-00986
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/container-corporation-of-india-limited-ib-631nd-2018-59ba1f5a

## Summary

### Background

The case involves a petition filed by Kohinoor India (P) LTD, an operational creditor, against Container Corporation of India Limited, the corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016. Kohinoor India participated in an online bid for the auction of rubber process oil by the corporate debtor through Matex Net Pvt Ltd. Container Corporation confirmed the bid and requested a 30% payment, which Kohinoor India remitted. Subsequently, the corporate debtor requested the remaining 70%, which was also paid. However, Container Corporation failed to deliver the goods due to a lack of environmental/regulatory clearances. While the corporate debtor admitted liability and refunded a portion of the price consideration, it did not refund the custom

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## Facts

Kohinoor India (P) LTD participated in an online auction for rubber process oil conducted by Container Corporation of India Limited through Matex Net Pvt Ltd on 29.03.2012. Container Corporation confirmed the bid on 05.04.2012 and requested 30% payment, which Kohinoor India remitted. On 17.05.2012, Container Corporation demanded the balance 70%, which Kohinoor India paid on 23.05.2012. Container Corporation failed to deliver the goods due to a lack of environmental/regulatory clearances. Container Corporation admitted liability and agreed to refund the amount, refunding a portion on 08.08.2012, 31.07.2014, and 01.12.2015. However, Container Corporation did not refund the custom component of Rs. 3,59,163, advising Kohinoor India to claim it from custom authorities. The

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## Issues and analysis

### Issue 1: Whether the petition filed by the operational creditor is maintainable under Section 9 of the …

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

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**Reasoning:** The tribunal considered the arguments presented by both parties and examined the

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

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**Application:** The tribunal found that the operational creditor had demonstrated a valid debt

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## Parties

- **Judges:** Ina Mal…; SUMITAPURKA…
- **Appellants:** KOHINOOR INDIA…
- **Respondents:** CONTAINER…
- **Advocates:** Kewal Krishan…; Suman S…; +2 more

## Timeline

- **2012-03-29 — Online B…**: Kohinoor India participated in an online bid for the auction of rubber process oil by the…
- **2012-04-05 — Bid Confir…**: Container Corporation confirmed the…

## 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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