# In the matter of Indo Laminates Pvt.  Ltd. (IB)-719(ND)-2019

> NCLT judgment dated 2019-05-22. Citation: TCN-2019-NCLT-03225. The Operational Creditor, M/s. GD Chemicals, filed a petition for initiation of Corporate…

- **Court:** NCLT
- **Order date:** 22 May 2019
- **Citation:** TCN-2019-NCLT-03225
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/indo-laminates-pvt-ltd-ib-719nd-2019-99b97074

## Summary

### Background

The Operational Creditor, M/s. GD Chemicals, filed a petition for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Indo Laminates Pvt. Ltd., due to its inability to liquidate its debts. The Corporate Debtor is engaged in the business of lamination and had approached the Operational Creditor for the supply of melamine. Several invoices were raised, and a running account was maintained. As per the ledger account, a sum of Rs. 1,29,67,270/- was due and payable as of 03.03.2018. Despite repeated requests and reminders, the Corporate Debtor failed to liquidate the outstanding liability. The Operational Creditor issued a Demand Notice dated 31.01.2019 under Section 8 of the Insolvency & Bankruptcy Code, claiming Rs. 1,58,59,420/-

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## Facts

M/s. GD Chemicals, an Operational Creditor, supplied melamine to Indo Laminates Pvt. Ltd., a Corporate Debtor engaged in the business of lamination. Several invoices were raised, and a running account was maintained. As of 03.03.2018, Rs. 1,29,67,270/- was due. The Corporate Debtor failed to liquidate the outstanding liability despite repeated requests. A Demand Notice was issued on 31.01.2019, claiming Rs. 1,58,59,420/-. The Corporate Debtor claimed the Operational Creditor was an unregistered partnership firm, the supplies were substandard, and a notice of dispute was sent. The Corporate Debtor also claimed the demand notice was duly replied to within 10 days. An email from Ajay Sharma of Indo Laminates Pvt. Ltd. dated 12/09/2018, confirmed an outstanding balance of

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## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor is maintainable given that it is an …

**Ratio:** Section 69 of the Indian Partnership Act creates a bar on an unregistered firm only in

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**Reasoning:** The court relied on the Apex Court's decision in Raptakos Brett & Co. Ltd. Vs. Ganesh

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**Interpretation:** The court interpreted Section 69 of the Indian Partnership Act narrowly,

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**Application:** The court applied the ratio to the facts of the case, holding that the fact

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## Parties

- **Judges:** Ina Mal…; V.K. SUB…
- **Appellants:** M/s. GD Che…
- **Respondents:** Indo Laminates…

## Timeline

- **2018-03-03 — Outstanding…**: Rs. 1,29,67,270/- was…
- **2018-09-12 — Email Confi…**: Email from Ajay Sharma of Indo Laminates Pvt. Ltd. confirmed an outstanding balance of…

## 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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