# In the matter of Karthik Roofings & Structurals Private Limited CP(IB) No. 345-BB-2019

> NCLT judgment dated 2019-11-22. Citation: TCN-2019-NCLT-00487. The case involves a petition filed by M/s. Cotmac Industrial Trading Private Limited…

- **Court:** NCLT
- **Order date:** 22 Nov 2019
- **Citation:** TCN-2019-NCLT-00487
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/karthik-roofings-structurals-private-limited-cpib-no-345-bb-2019-e0318290

## Summary

### Background

The case involves a petition filed by M/s. Cotmac Industrial Trading Private Limited (Operational Creditor) under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Karthik Roofings & Structurals Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied goods, amounting to Rs. 3,09,068/- including interest. The Corporate Debtor had been approached for the supply of Wielding wire, Lincoln EM wire and Lincoln Electric Saw between August and September 2017. The Corporate Debtor made partial payments, but a significant amount remained outstanding. The Operational Creditor issued a demand notice on April 26, 2019, which the Corporate Debtor

…

## Facts

M/s. Cotmac Industrial Trading Private Limited (Operational Creditor) filed a petition against M/s. Karthik Roofings & Structurals Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, seeking to initiate CIRP. The Operational Creditor claimed a default of Rs. 3,09,068/-, including interest of Rs. 84,068/-, for goods supplied between August 9, 2017, and September 7, 2017. The goods included Wielding wire, Lincoln EM wire, and Lincoln Electric Saw. The Corporate Debtor made partial payments of Rs. 4,08,068/- against a total claim of Rs. 6,33,654/-. The Operational Creditor issued a demand notice on April 26, 2019, which was received by the Corporate Debtor on May 3, 2019. The Corporate Debtor did not respond to the demand notice. The invoices related

…

## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor is maintainable under Section 9 of the IBC, …

**Ratio:** The provisions of the IBC cannot be

…

**Reasoning:** The NCLT reasoned that the petition was filed to recover an alleged outstanding amount

…

**Interpretation:** The interpretation of Section 9 of the IBC is that it is intended for genuine

…

**Application:** The NCLT applied the ratio to the facts by determining that the Operational

…

## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** M/s. Cotmac…
- **Respondents:** M/s. Karthik…

## Timeline

- **2011-06-21 — Incorporation of…**: M/s. Karthik Roofings & Structurals…
- **2017-08-09 — Supply of Good…**: The Operational Creditor started…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/karthik-roofings-structurals-private-limited-cpib-no-345-bb-2019-e0318290