# in tha matter of Kee Projects Ltd. CP No. 662-2016

> NCLT judgment dated 2017-07-06. Citation: TCN-2017-NCLT-00759. Sharda Rawat, the petitioner (referred to as 'financial creditor'), filed a petition for…

- **Court:** NCLT
- **Order date:** 6 Jul 2017
- **Citation:** TCN-2017-NCLT-00759
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/in-tha-matter-of-kee-projects-ltd-cp-no-662-2016-c07ace0f

## Summary

### Background

Sharda Rawat, the petitioner (referred to as 'financial creditor'), filed a petition for winding up against Kee Projects Ltd., the respondent company, under Section 439 read with Section 443 of the Companies Act 1956, and also Section 433(e) read with Section 434 of the same Act. The case was initially filed before the Delhi High Court on July 29, 2016, and later transferred to the National Company Law Tribunal (NCLT), New Delhi, pursuant to a notification dated December 7, 2016, issued by the Ministry of Corporate Affairs. The petitioner, an operational creditor, supplied goods to the respondent company between May 11, 2013, and July 4, 2013, raising invoices totaling Rs. 32,93,099. The respondent company assured the petitioner of profitable business and timely

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## Facts

Sharda Rawat (petitioner), an operational creditor, supplied goods to Kee Projects Ltd. (respondent/corporate debtor) between 2013-05-11 and 2013-07-04, totaling Rs. 32,93,099. The respondent assured profitable business and payment within 45 days. The petitioner received Rs. 10,77,534, but the remaining Rs. 22,15,565 was unpaid, with issued cheques dishonored. The petitioner filed a winding-up petition in the Delhi High Court on 2016-07-29, later transferred to NCLT. The petitioner dispatched a petition copy and statement of account to the corporate debtor on 2017-05-01 and issued a demand notice on 2017-06-02. No payment or response was received from the corporate debtor. The petitioner filed a compliance affidavit on 2017-06-23, stating the Interim Resolution

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## Issues and analysis

### Issue 1: Whether the operational creditor, Sharda Rawat, met the requirements of Section 9 of the Insolvency …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, outlines the procedure for an

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**Reasoning:** The NCLT observed that the operational creditor had provided sufficient evidence,

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**Interpretation:** Section 9 of the IBC is interpreted to provide a mechanism for operational

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**Application:** In this case, the operational creditor, Sharda Rawat, demonstrated that Kee

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## Parties

- **Judges:** CHIEF JUSTICE…; Deepa Kr…; +1 more
- **Appellants:** Sharda…
- **Respondents:** Kee Project…

## Timeline

- **2013-05-11 — Goods Suppl…**: Sharda Rawat started supplying…
- **2013-07-04 — Goods Supp…**: Sharda Rawat ended supplying…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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