# In the matter of Indus Projects Limited CP No. 1697-IBC-NCLT-MB-MAH-2018

> NCLT judgment dated 2019-10-01. Citation: TCN-2019-NCLT-01132. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 1 Oct 2019
- **Citation:** TCN-2019-NCLT-01132
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/indus-projects-limited-cp-no-1697-ibc-nclt-mb-mah-2018-0de80f3e

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Industrial X-Ray & Allied Radiographers Pvt Ltd (Operational Creditor) against Indus Projects Ltd (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for Non-Destructive Testing services provided. The Corporate Debtor failed to appear before the NCLT despite being served notices.

## Facts

Industrial X-Ray & Allied Radiographers Pvt Ltd (Operational Creditor) provided Non-Destructive Testing services to Indus Projects Ltd (Corporate Debtor). The services included Radiography, Ultrasonic Testing, and Eddy Current testing. The Corporate Debtor placed orders for these services at various sites between 2012 and 2017. The Operational Creditor raised invoices totaling ₹95,31,485/-. Despite repeated requests, the Corporate Debtor failed to pay the outstanding amount. The Operational Creditor issued a Demand Notice on 2018-03-15 under Section 8 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor did not reply to the notice or raise any dispute regarding the debt. The Corporate Debtor also did not appear before the NCLT despite being served

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted in making payment of the outstanding debt to the Operational …

**Ratio:** A 'Default' is defined under Section 3(12) of the Insolvency and Bankruptcy Code, 2016 as

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**Reasoning:** The Corporate Debtor availed the services of the Operational Creditor but failed to pay

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**Interpretation:** The failure to pay the outstanding amount constitutes a 'Default' as defined

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**Application:** The Corporate Debtor's failure to pay ₹95,31,485/- despite availing the

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Industrial X-Ray…
- **Respondents:** Indus Proje…

## Timeline

- **2018-03-15 — Demand Notice…**: The Operational Creditor issued a Demand Notice under Section 8 of the Insolvency and…
- **2018-05-09 — Operational Creditor…**: M/s Industrial X-Ray & Allied Radiographers Pvt Ltd furnished Form No. 5 under Rule 6 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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