# In the matter of D N Sircar Das Pvt. Ltd. CP(IB)No.510-KB-2018

> NCLT judgment dated 2018-11-02. Citation: TCN-2018-NCLT-00387. The case involves an application filed by Kanodia Metals Private Limited, the Operational…

- **Court:** NCLT
- **Order date:** 2 Nov 2018
- **Citation:** TCN-2018-NCLT-00387
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/d-n-sircar-das-pvt-ltd-cpibno510-kb-2018-05eaa599

## Summary

### Background

The case involves an application filed by Kanodia Metals Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against D N Sircar Das Pvt. Ltd., the Corporate Debtor, for non-payment of dues amounting to Rs. 41,16,502/-. The Operational Creditor claimed to have supplied goods to the Corporate Debtor between June 2014 and January 2015, but the Corporate Debtor failed to make the payment despite repeated demands. The Corporate Debtor did not appear despite service of notice through publication.

## Facts

Kanodia Metals Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against D N Sircar Das Pvt. Ltd. (Corporate Debtor) for non-payment of dues amounting to Rs. 41,16,502. The Operational Creditor supplied goods to the Corporate Debtor between June 27, 2014, and January 15, 2015. Despite repeated demands, the Corporate Debtor failed to pay the amount. The Corporate Debtor was served notice through publication in 'Times of India' and 'A Samay' on April 9, 2018, but did not appear. The Corporate Debtor had acknowledged the debt in letters dated between 2014 and 2016. The Operational Creditor produced bank statements and an affidavit stating that no notice of dispute was received from the Corporate

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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 court noted that the Corporate Debtor had admitted and acknowledged the debt in

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

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**Application:** The Corporate Debtor's admission of debt and failure to pay, coupled with the

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## Parties

- **Judges:** Madan B.…
- **Appellants:** Kanodia Metals…
- **Respondents:** D N SIRCAR DAS…
- **Advocates:** Nicky Cho…; Rohit J…

## Timeline

- **2014-06-27 — Start of Good…**: Operational Creditor started…
- **2015-01-15 — End of Goods…**: Operational Creditor completed…

## 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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