# In the matter of Ishavashyam Infra LLP C.P. (I.B) No. 167-9-NCLT-AHM-2018

> NCLT judgment dated 2019-12-17. Citation: TCN-2019-NCLT-00136. The case involves an application filed by Nuvoco Vistas Corporation Limited (the Petitioner),…

- **Court:** NCLT
- **Order date:** 17 Dec 2019
- **Citation:** TCN-2019-NCLT-00136
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ishavashyam-infra-llp-cp-ib-no-167-9-nclt-ahm-2018-04abfda8

## Summary

### Background

The case involves an application filed by Nuvoco Vistas Corporation Limited (the Petitioner), an operational creditor, against Ishavashyam Infra LLP (the Respondent), the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition seeks to initiate the Corporate Insolvency Resolution Process (CIRP) for the recovery of unpaid operational debt. The Respondent approached the Applicant for the purchase of Ready Mix Concrete (RMC), which was supplied between September and October 2015. The Respondent failed to make payments as per the agreed terms, leading to the filing of this petition.

## Facts

Nuvoco Vistas Corporation Limited (formerly Lafarge India Limited) is an operational creditor engaged in the business of manufacturing and selling cement and related products. Ishavashyam Infra LLP is the corporate debtor. The Respondent approached the Applicant for the purchase of Ready Mix Concrete (RMC) to be delivered at the Applicant's site. Purchase orders were placed on 01.09.2015 and 01.10.2015, with a payment condition of 15 days from the date of supply. The Applicant supplied RMC between September and October 2015, and delivery challans were duly signed and acknowledged by the Respondent. The Respondent accepted the RMC without protest, indicating it met the required quality and specifications. The Respondent issued a cheque for Rs.14,40,000/- dated

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9(5)(i) of the IBC states that the Adjudicating Authority may admit the

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**Reasoning:** The Adjudicating Authority observed that the application was complete, the debt existed,

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**Interpretation:** Section 9 of the IBC outlines the procedure for initiating CIRP by an

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**Application:** The application was deemed complete as it included all necessary documents and

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## Parties

- **Judges:** Harihar Prakash…; Prasanta Kumar…
- **Appellants:** Nuvoco Vistas…
- **Respondents:** Ishavashyam Infra…
- **Advocates:** Vibhor Ch…

## Timeline

- **2014-11-11 — Incorporation of…**: Ishavashyam Infra LLP was…
- **2015-09-01 — Purchase…**: Respondent placed purchase…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 3(12) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-3)

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