# In the matter of Coracias Projects Private Limited Company Petition No. IB-1051-ND-2020

> NCLT judgment dated 2021-04-09. Citation: TCN-2021-NCLT-02412. The Operational Creditor, M/S SVS Cleanroom and Engineering System OPC Pvt Ltd, filed an…

- **Court:** NCLT
- **Order date:** 9 Apr 2021
- **Citation:** TCN-2021-NCLT-02412
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/coracias-projects-private-limited-company-petition-no-ib-1051-nd-2020-9f0e52cd

## Summary

### Background

The Operational Creditor, M/S SVS Cleanroom and Engineering System OPC Pvt Ltd, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S Coracias Projects Private Limited, the Corporate Debtor, for its inability to pay outstanding invoices. The Applicant claimed to be engaged in the business of sale, purchase, and installation of equipment and machines. The Corporate Debtor was incorporated on 10.01.2019 and is engaged in building installation. The Applicant was selected as a contractor to undertake work for the Corporate Debtor at Denso India Pvt Ltd. The Applicant raised 41 invoices totaling Rs. 2,32,00,061/-, but the Corporate Debtor only paid Rs. 1,48,10,702/-. The

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## Facts

M/S SVS Cleanroom and Engineering System OPC Pvt Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Coracias Projects Private Limited (Corporate Debtor). The Operational Creditor claimed an outstanding amount of Rs. 63,36,049/- for unpaid invoices related to the supply of materials. The Corporate Debtor was incorporated on 10.01.2019 and is engaged in building installation. The Applicant was selected as a contractor to undertake work for the Corporate Debtor at Denso India Pvt Ltd. The work order was dated 10.05.2019 and sent to the Operational Creditor by email on 15.05.2019. The Operational Creditor raised 41 invoices totaling Rs.

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency and …

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

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**Reasoning:** The Adjudicating Authority considered the facts and circumstances and found that the

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

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**Application:** The Adjudicating Authority found that the Operational Creditor had met the

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## Parties

- **Judges:** DEEPTI M…; SUMITAPURKA…
- **Appellants:** M/S SVS CLEANROOM…
- **Respondents:** M/S CORACIAS…

## Timeline

- **2019-01-10 — Incorporation of…**: M/S Coracias Projects Pvt Ltd…
- **2019-05-10 — Work Orde…**: Work order dated 10.05.2019…

## 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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