# In the matter of Joyross Technical Services Pvt. Ltd. IBA-39-KOB-2019

> NCLT judgment dated 2019-11-14. Citation: TCN-2019-NCLT-00594. The case involves an application filed by M/s Chryso (India) Private Limited, the Operational…

- **Court:** NCLT
- **Order date:** 14 Nov 2019
- **Citation:** TCN-2019-NCLT-00594
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/joyross-technical-services-pvt-ltd-iba-39-kob-2019-17aa1a20

## Summary

### Background

The case involves an application filed by M/s Chryso (India) Private Limited, the Operational Creditor, against Joyross Technical Services Pvt. Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the IB(AAA) Rules, 2016. The Operational Creditor claimed that the Corporate Debtor had defaulted on payments for chemical products purchased in September 2016. Despite reminders and a demand notice, the Corporate Debtor failed to make the outstanding payments. The Operational Creditor then filed an application to initiate the Corporate Insolvency Resolution Process (CIRP).

## Facts

M/s Chryso (India) Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Joyross Technical Services Pvt. Ltd, the Corporate Debtor. The Corporate Debtor had purchased chemical products from the Operational Creditor in September 2016. A purchase order was issued on September 28, 2016. The Operational Creditor delivered goods under Invoice No.C2PS16-067 dated September 30, 2016, amounting to ₹29,34,838/-. The Corporate Debtor failed to make payments towards the outstanding amount. The Operational Creditor reminded the Corporate Debtor through several emails. The Corporate Debtor made a partial payment of Rs.50,000/- on June 13, 2017, and issued a cheque which was dishonoured on October 25,

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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 of the Insolvency and Bankruptcy Code, 2016, allows an operational creditor to

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**Reasoning:** The Tribunal found that the application filed by the Operational Creditor was complete

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** The Tribunal applied Section 9 to the facts of the case and determined that the

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## Parties

- **Judges:** Ashok Kumar…; Veera Brahma Rao…
- **Appellants:** M/s Chryso…
- **Respondents:** Joyross Technical…

## Timeline

- **2016-09-01 — Purchase of Chemical…**: The Corporate Debtor purchased chemical…
- **2016-09-28 — Purchase Orde…**: The Corporate Debtor issued…

## 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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