# In the matter of Kaskal Facade Private Limited CP (IB) No.3885-MB.IV-2019

> NCLT judgment dated 2020-07-15. Citation: TCN-2020-NCLT-01034. The case pertains to a Company Petition filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 15 Jul 2020
- **Citation:** TCN-2020-NCLT-01034
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kaskal-facade-private-limited-cp-ib-no3885-mbiv-2019-9af31f41

## Summary

### Background

The case pertains to a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Tremco India Private Limited (Operational Creditor) against Kaskal Facade Private Limited (Corporate Debtor). The Operational Creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor based on a default in payment for goods supplied. The Corporate Debtor is a private company limited by shares, incorporated on 02.06.2016. The Operational Creditor claimed a default of ₹16,64,563.17 as principal and ₹1,98,083.00 as interest as on 26.01.2019.

## Facts

Tremco India Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Kaskal Facade Private Limited (Corporate Debtor) seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor is in the business of selling roofing materials, construction sealants, glazing, gaskets, and waterproofing systems. The Corporate Debtor approached the Operational Creditor and placed purchase orders for glazing materials between 11.08.2018 and 11.01.2019, totaling ₹16,64,536.17. The Operational Creditor supplied the goods, and invoices were raised. Payments were to be made within sixty days, but the Corporate Debtor failed to pay despite reminders. As of 26.01.2019, the outstanding

…

## Issues and analysis

### Issue 1: Whether the application made by the Operational Creditor is complete in all respects as required by …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, read with the Insolvency and

…

**Reasoning:** The Adjudicating Authority determined that the application filed by the Operational

…

**Interpretation:** The application must include all necessary documents and information as

…

**Application:** The court found that the Operational Creditor had provided sufficient evidence

…

## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Tremco India…
- **Respondents:** Kaskal Facade…

## Timeline

- **2018-08-11 — Purchase Order…**: The Corporate Debtor placed purchase orders for glazing materials with the Operational…
- **2019-01-21 — Purchase Order…**: The Corporate Debtor placed purchase orders for glazing materials with the Operational…

## 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)

---

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/kaskal-facade-private-limited-cp-ib-no3885-mbiv-2019-9af31f41