# In the matter of Jagdamba Loha Udhyog Pvt.Ltd. Company Petition (IB)No. 213-ALD-2018

> NCLT judgment dated 2018-07-31. Citation: TCN-2018-NCLT-01034. The case involves a Company Petition (IB) No. 213/ALD/2018 filed under Section 9 of the…

- **Court:** NCLT
- **Order date:** 31 Jul 2018
- **Citation:** TCN-2018-NCLT-01034
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jagdamba-loha-udhyog-pvtltd-company-petition-ibno-213-ald-2018-aa56f6d0

## Summary

### Background

The case involves a Company Petition (IB) No. 213/ALD/2018 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. The petition was filed by M/s Kumar Casting Private Limited, an operational creditor, against M/s Jagdamba Loha Udhyog Pvt. Ltd., the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed an outstanding debt of Rs. 25,54,433/-.

## Facts

M/s Kumar Casting Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Jagdamba Loha Udhyog Pvt. Ltd. (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor owed them Rs. 25,54,433/- for goods/raw materials sold and delivered. The Operational Creditor provided authorization letter from Mr. Vipin Goel (Director) dated 2018-05-21. The Operational Creditor annexed invoices/margin bills as evidence of the debt. A demand notice dated 2018-05-09 was issued to the Corporate Debtor, which was received at their registered address, but no notice of dispute was issued by the Corporate Debtor. The Operational Creditor

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## Issues and analysis

### Issue 1: Whether the petitioner has complied with the provision of section 9 of IB Code for initiation of …

**Ratio:** Section 9 of the IB Code outlines the requirements for initiating CIRP by an operational

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**Reasoning:** The NCLT perused the documents annexed with the application and found that the petitioner

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**Interpretation:** Section 9 of the IB Code is interpreted to mean that an operational creditor

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**Application:** In this case, the petitioner provided evidence of an operational debt exceeding

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## Parties

- **Judges:** SH. V.P.…; Ms Saroj R…
- **Appellants:** M/s Kumar Casting…
- **Respondents:** M/s Jagdamba Loha…

## Timeline

- **1996-01-01 — Corporate Debtor…**: M/s Jagdamba Loha Udhyog…
- **2017-09-04 — Letter Demandin…**: Applicant sent a letter to the Respondent/Corporate Debtor demanding payment of the…

## 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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