# In the matter of Hi Tech City Developers Private LImited Company Petition no. (IB)- 310 (ND)-2017

> NCLT judgment dated 2018-02-16. Citation: TCN-2018-NCLT-01806. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 16 Feb 2018
- **Citation:** TCN-2018-NCLT-01806
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hi-tech-city-developers-private-limited-company-petition-no-ib-310-nd-2017-f4b78d15

## 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, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Hi Tech City Developers Private Limited, the respondent corporate debtor. Siddhi Interiors Private Limited, the applicant, claims to be a supplier of readymade modular kitchen and wardrobes to the respondent, a real estate developer. The applicant alleges that the respondent defaulted on payments for the supplied materials.

## Facts

Siddhi Interiors Private Limited (the applicant) is a supplier of readymade modular kitchens and wardrobes. Hi Tech City Developers Private Limited (the respondent) is a real estate developer engaged in the 'Amrapali Ampire' project in Ghaziabad. The applicant supplied materials to the respondent from 2013 to August 2015. The last payment made by the respondent was in August 2014. The applicant stopped supplying materials in September 2015 due to accumulated unpaid dues. The respondent reconciled the account and acknowledged an outstanding amount of Rs. 70,10,950/-. Despite this, the respondent failed to make the payment. The applicant issued a notice under Section 8 of the Insolvency and Bankruptcy Code on 17.05.2017. The respondent claimed the demand was false, 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:** The application is admissible if it meets the requirements of Section 9(5)(i)(a) to (e)

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**Reasoning:** The court found that the applicant had provided sufficient evidence, including a

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**Interpretation:** Section 9 of the IBC outlines the procedure and requirements for an operational

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**Application:** The court applied the requirements of Section 9 to the facts of the case and

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## Parties

- **Judges:** M. M. K…; DeepaKr…
- **Appellants:** Siddhi Interiors…
- **Respondents:** Hi Tech City…

## Timeline

- **2013-01-01 — Supply of Materials…**: Siddhi Interiors Private Limited started supplying materials to Hi Tech City Developers…
- **2015-08-01 — Last Paymen…**: The last payment made by Hi Tech City Developers Private Limited to Siddhi Interiors…

## 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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