# In the matter of Ganapati India International Pvt. Ltd. C.P (IB) No.74-KB-2021

> Read the full IBC case summary for In the matter of Ganapati India International Pvt. Ltd. C.P (IB) No.74-KB-2021. NCLT judgment dated 2022-07-13. Citation:…

- **Court:** NCLT
- **Order date:** 13 Jul 2022
- **Citation:** TCN-2022-NCLT-04593
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ganapati-india-international-pvt-ltd-cp-ib-no74-kb-2021-96c583d8

## Summary

### Background

The operational creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process against the corporate debtor for an outstanding operational debt.

## Facts

Mangilal Suthar, proprietor of M. Arts (Operational Creditor), filed a petition 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 Ganapati India International Pvt. Ltd. (Corporate Debtor). The Operational Creditor, an interior work contractor and designer, had entered into agreements with the Corporate Debtor, a building contractor, for interior work during 2016-17.

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## Issues and analysis

### Issue 1: Whether the application for initiating CIRP is maintainable given the date of default and the…

**Ratio:** An application for CIRP is maintainable if the default occurred before the period…

**Reasoning:** The Corporate Debtor argued that no CIRP application could be instituted for defaults…

**Interpretation:** The NCLT interpreted the date of default based on the corporate debtor's…

**Application:** The NCLT applied this interpretation to the facts, noting the Corporate…

## Parties

- **Judges:** Rohit K…; Harish Chander…
- **Advocates:** Chandra Sek…; Narayan T…; +3 more

## Timeline

- **September 5, 2016 — Agreement/Cont…**: Operational Creditor and Corporate Debtor entered into an agreement/contract (No.…
- **February 9, 2017 — Agreement/Cont…**: Operational Creditor and Corporate Debtor entered into another agreement/contract (No.…

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