# In the matter of Kei-Rsos Maritime Limited TCP No. 79-9-AMR-2019 {CP (IB) No. 32-9-HDB-2019}

> NCLT judgment dated 2019-08-28. Citation: TCN-2019-NCLT-01712. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 28 Aug 2019
- **Citation:** TCN-2019-NCLT-01712
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kei-rsos-maritime-limited-tcp-no-79-9-amr-2019-cp-ib-no-32-9-hdb-2019-05003921

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Docking and Engineering Co. (VSP) Private Limited, an operational creditor, against Kei-Rsos Maritime Limited, the corporate debtor, for failure to repay an operational debt. The operational creditor provided dry dock repair services to the corporate debtor based on two work orders issued in 2015. After completing the work, invoices were raised in 2016. The corporate debtor made a partial payment in 2017 but failed to clear the remaining dues, leading to the issuance of a demand notice by the operational creditor in 2018. The operational creditor then filed the present petition in 2019.

## Facts

Docking and Engineering Co. (VSP) Private Limited (the operational creditor) provided dry dock repair services to Kei-Rsos Maritime Limited (the corporate debtor) based on two work orders issued on 18.05.2015 (amounting to ₹47,38,985.69) and 20.08.2015 (amounting to ₹4,05,148). Upon completion of the work, the operational creditor raised invoices No.170001 and 170002 dated 22.04.2016. The corporate debtor made a partial payment of ₹21,00,000 on 06.04.2017 but did not clear the remaining dues. The operational creditor issued a demand notice under Section 8 of the IBC on 12.11.2018, which was served on 16.11.2018. The operational creditor filed a petition on 09.01.2019, claiming a total default of ₹45,44,928.93, including interest at 18% amounting to ₹15,47,018.24. The

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## Issues and analysis

### Issue 1: Whether the debt claimed by the operational creditor qualifies as an 'operational debt' under the …

**Ratio:** An 'operational debt' is defined under the IBC as a debt in respect of the provision of

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**Reasoning:** The court reasoned that the debt arose from the provision of dry dock repair services,

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**Interpretation:** The interpretation of 'operational debt' is broad and encompasses any debt

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**Application:** In this case, the debt was for dry dock repair services, which are essential

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## Parties

- **Judges:** Janab Mohammed…
- **Appellants:** Docking And…
- **Respondents:** Kei-Rsos Maritime…
- **Advocates:** Saurabh Up…; K. Rama Sr…

## Timeline

- **2015-05-18 — Work Order…**: Respondent issued a work order amounting…
- **2015-08-20 — Work Order…**: Respondent issued a work order…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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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/kei-rsos-maritime-limited-tcp-no-79-9-amr-2019-cp-ib-no-32-9-hdb-2019-05003921