# In the matter of Effimac Equipments Pvt. Ltd. (IB)-799(PB)-2018

> NCLT judgment dated 2019-05-24. Citation: TCN-2019-NCLT-03205. The case pertains to a matter before the National Company Law Tribunal (NCLT), New Delhi,…

- **Court:** NCLT
- **Order date:** 24 May 2019
- **Citation:** TCN-2019-NCLT-03205
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/effimac-equipments-pvt-ltd-ib-799pb-2018-5be8c8df

## Summary

### Background

The case pertains to a matter before the National Company Law Tribunal (NCLT), New Delhi, Principal Bench. M/s. Aanvi Enterprises filed an application/petition against M/s. Effimac Equipments Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016.

## Facts

M/s. Aanvi Enterprises initiated proceedings against M/s. Effimac Equipments Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016, for an unspecified amount. The core fact is that M/s. Effimac Equipments Pvt. Ltd. made a payment of Rs. 4,70,000.00 to M/s. Aanvi Enterprises via a demand draft dated 2019-05-23. This payment was deemed sufficient by Mr. Surender Gupta, the counsel for the petitioner, M/s. Aanvi Enterprises, to satisfy the claim made in the original petition. As a result, Mr. Gupta stated that nothing remained for adjudication. The payment and subsequent statement by the petitioner's counsel are the key facts that led to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether the payment of Rs. 4,70,000.00 by the respondent satisfies the claim made in the petition …

**Ratio:** The legal principle applied is that if a claim is satisfied during the pendency of

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**Reasoning:** The court accepted the statement of the petitioner's counsel, Mr. Surender Gupta, that

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**Interpretation:** This interprets that Section 9 of the IBC allows for the initiation of

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**Application:** In this specific case, the payment of Rs. 4,70,000.00 directly addressed the

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** M/s. Aanvi…
- **Respondents:** M/s. Effimac…

## Timeline

- **2019-05-23 — Demand Draf…**: A demand draft dated 23.05.2019…
- **2019-05-24 — Order Da…**: Order delivered on 24.05.2019,…

## 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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