# In the matter of Famica Press Industries Pvt. Ltd. C.P. (IB) No. 1241-KB-2018

> NCLT judgment dated 2019-06-18. Citation: TCN-2019-NCLT-02858. Tata Steel Processing and Distribution Ltd. filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 18 Jun 2019
- **Citation:** TCN-2019-NCLT-02858
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/famica-press-industries-pvt-ltd-cp-ib-no-1241-kb-2018-c3d0947b

## Summary

### Background

Tata Steel Processing and Distribution Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Famica Press Industries Pvt. Ltd. for initiating the Corporate Insolvency Resolution Process (CIRP). The application was based on an unpaid operational debt of Rs. 20,74,789.10/-. The Operational Creditor claimed that the Corporate Debtor had purchased goods from them and failed to pay the outstanding amount despite repeated demands and legal notices.

## Facts

Tata Steel Processing and Distribution Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Famica Press Industries Pvt. Ltd. (Corporate Debtor) due to an unpaid operational debt of Rs. 20,74,789.10/-. The Operational Creditor supplied goods to the Corporate Debtor based on purchase orders dated 04.06.2015 and 29.06.2015, raising five invoices. The last payment was made on 09.06.2017. A legal notice dated 08.01.2018 was sent, followed by a demand notice dated 30.04.2018. The Corporate Debtor disputed the claim but did not reply to the demand notice or make any payments. The Corporate Debtor failed to appear in court despite receiving notice, leading to an ex parte order. The Operational Creditor

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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(5) of the Insolvency and Bankruptcy Code, 2016, requires the Adjudicating

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**Reasoning:** The court examined the documents submitted by the Operational Creditor, including

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**Interpretation:** Section 9 of the I&B Code allows an operational creditor to initiate CIRP

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**Application:** The court applied the provisions of Section 9 of the I&B Code to the facts

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## Parties

- **Judges:** K.R. J…; Harish Chander…
- **Appellants:** Tata Steel…
- **Respondents:** M/s. Famica Press…

## Timeline

- **2015-06-04 — Purchase Ord…**: Purchase Order Dated…
- **2015-06-29 — Purchase Ord…**: Purchase Order Dated…

## 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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