# In the matter of Kay Em Copper Pvt. Ltd. IB-288-ND-2020

> NCLT judgment dated 2021-05-24. Citation: TCN-2021-NCLT-02102. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 24 May 2021
- **Citation:** TCN-2021-NCLT-02102
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kay-em-copper-pvt-ltd-ib-288-nd-2020-613e893f

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) by M/s. Olympus Metal Pvt. Ltd. against Kay Em Copper Pvt. Ltd. The corporate debtor, Kay Em Copper Pvt. Ltd., is already undergoing Corporate Insolvency Resolution Process (CIRP) in another case (IB/2027/ND/2019) before the same tribunal.

## Facts

M/s. Olympus Metal Pvt. Ltd. filed an application under Section 9 of the IBC against Kay Em Copper Pvt. Ltd. Kay Em Copper Pvt. Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP) in another case (IB/2027/ND/2019) titled Tata Capital Financial Services Ltd. Vs. Kay Em Copper Pvt. Ltd., with an order dated 19.04.2021. The counsel for the corporate debtor informed the tribunal about the ongoing CIRP. The operational creditor was not present during the virtual hearing.

## Issues and analysis

### Issue 1: Whether the Section 9 application filed by M/s. Olympus Metal Pvt. Ltd. is maintainable given that …

**Ratio:** When a corporate debtor is already undergoing CIRP, any fresh application for initiation

…

**Reasoning:** The tribunal reasoned that since the corporate debtor is already undergoing CIRP, any

…

**Interpretation:** This interpretation aligns with the principle of consolidating insolvency

…

**Application:** The tribunal applied this principle to the facts of the case, noting that Kay

…

## Parties

- **Judges:** P.S.N. P…; SHRI, NARENDER…
- **Appellants:** M/s. Olympus…
- **Respondents:** M/s. Kay Em…

## Timeline

- **2021-04-19 — Order in IB/202…**: Order passed by the Tribunal in case No. IB/2027/ND/2019 (Tata Capital Financial Services…
- **2021-05-24 — Order del…**: Order delivered by the NCLT…

## 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/kay-em-copper-pvt-ltd-ib-288-nd-2020-613e893f