# In the matter of Ferrosco Industries Private Limited CP(IB)18(CHE)-2021

> Read the full IBC case summary for In the matter of Ferrosco Industries Private Limited CP(IB)18(CHE)-2021. NCLT judgment dated 2022-05-02. Citation:…

- **Court:** NCLT
- **Order date:** 2 May 2022
- **Citation:** TCN-2022-NCLT-04862
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ferrosco-industries-private-limited-cpib18che-2021-8c47f095

## Summary

### Background

The application was filed by Dhatu International PTE Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against M/s. Ferrosco Industries Private Limited (Corporate Debtor) for an unpaid operational debt.

## Facts

Dhatu International PTE Limited, the Operational Creditor, 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 M/s. Ferrosco Industries Private Limited, the Corporate Debtor. The Operational Creditor claimed an operational debt of Rs. 1,01,62,118.50/-, including interest, arising from the Corporate Debtor's failure to make payments under a seller's contract dated June 6, 2019.

…

## Issues and analysis

### Issue 1: Whether the applicant is an Operational…

**Ratio:** The applicant is an Operational Creditor, and the debt owed to it is an Operational Debt,…

**Reasoning:** The Tribunal referred to Section 5(20) and 5(21) of the IBC, 2016, and the Supreme…

**Interpretation:** The court interpreted "Operational Creditor" and "Operational Debt" broadly to…

**Application:** Given that the applicant supplied heavy melting scrap to the Corporate Debtor…

## Parties

- **Judges:** S. Ramath…; Anil Ku…
- **Advocates:** For Operational…; For Corporate…

## Timeline

- **June 6, 2019 — Seller's Contr…**: Seller's contract entered into between the…
- **June 19, 2019 — Commercial In…**: First commercial invoice raised by the…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/ferrosco-industries-private-limited-cpib18che-2021-8c47f095