# In the matter of Fortune Mix India Private Limited IBA-1324-2019

> NCLT judgment dated 2021-04-15. Citation: TCN-2021-NCLT-02382. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 15 Apr 2021
- **Citation:** TCN-2021-NCLT-02382
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/fortune-mix-india-private-limited-iba-1324-2019-a51f3e34

## Summary

### Background

The case involves an application filed 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, by Esskkaay Construction (Operational Creditor) against Fortune Mix India Private Limited (Corporate Debtor). The application was filed due to the Corporate Debtor defaulting on a payment of Rs. 9,55,510/-. The application was initially filed on 30.09.2019.

## Facts

Esskkaay Construction (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Fortune Mix India Private Limited (Corporate Debtor) due to a default in payment. The Corporate Debtor had ordered 799.92 tonnes of M. Sand and quarry dust from the Operational Creditor on credit, with a promise to pay within 30 days of the invoice date. The total outstanding operational debt amounted to Rs. 9,55,510/-, including interest at 24% per annum, which fell due on 16.03.2019. The Operational Creditor provided evidence of supply through delivery challans, weighment slips, and GST certificates for the period between 15.03.2019 and 17.05.2019. A demand notice was sent on 03.08.2019, but the Corporate Debtor did not respond. The

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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 IBC, 2016 allows for the admission of an application if the

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**Reasoning:** The Adjudicating Authority considered the facts presented, including the default in

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**Interpretation:** Section 9 of the IBC provides a mechanism for Operational Creditors to initiate

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**Application:** Based on the evidence presented, the Adjudicating Authority was inclined to

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## Parties

- **Judges:** R. Sucha…; B. Anil…
- **Appellants:** Esskkaay Construct…
- **Respondents:** Fortune Mix India…
- **Advocates:** S. Sathyana…

## Timeline

- **2019-03-16 — Default…**: The total outstanding…
- **2019-03-15 — Supply Perio…**: Start date of the period during which materials…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14(1) — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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