# In the matter of Ekdant Buildtech Private Limited Company Petition No. IB-1144-ND-2019

> NCLT judgment dated 2019-11-04. Citation: TCN-2019-NCLT-00728. M/S P.S.T. Trading and Components, through its proprietor Mrs. Chhama Jain, filed an…

- **Court:** NCLT
- **Order date:** 4 Nov 2019
- **Citation:** TCN-2019-NCLT-00728
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ekdant-buildtech-private-limited-company-petition-no-ib-1144-nd-2019-791f9e11

## Summary

### Background

M/S P.S.T. Trading and Components, through its proprietor Mrs. Chhama Jain, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Ekdant Buildtech Private Limited. The applicant, an operational creditor, claimed that the corporate debtor defaulted on payments for the supply of TMT bars. The corporate debtor allegedly contacted the applicant in 2015 and placed orders for the supply of TMT Bars. The applicant supplied goods amounting to Rs 98,72,204, out of which the corporate debtor made a part payment of Rs 91,93,049, leaving a balance of Rs 6,79,155 outstanding.

## Facts

M/S P.S.T. Trading and Components, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Ekdant Buildtech Private Limited, the corporate debtor. In 2015, the corporate debtor contacted the applicant and placed orders for the supply of TMT bars. The applicant supplied goods amounting to Rs 98,72,204. The corporate debtor made a part payment of Rs 91,93,049, leaving a balance of Rs 6,79,155 outstanding. The applicant issued a demand notice dated 25.02.2019 under Section 8 of the IBC, demanding the outstanding amount along with interest, totaling Rs 12,05,500. The notice was sent by speed post to the corporate debtor's registered address but was returned with the remark 'Unclaimed'. The

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 is complete and …

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

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**Reasoning:** The court examined the application and supporting documents to determine if they met the

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**Interpretation:** Section 9 of the IBC provides the framework for operational creditors to

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**Application:** The court found that the application was complete and the applicant was

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## Parties

- **Judges:** DEEPTI M…; Sh. Hemant Kumar…
- **Appellants:** M/S P.S.T.…
- **Respondents:** EKDANT BUILDTECH…

## Timeline

- **2015-01-01 — Orders P…**: Corporate debtor contacted the applicant and…
- **2016-07-15 — Date of D…**: Date of default as per…

## 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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