# 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-01720. 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-01720
- **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-2019-0e0ef733

## 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 (Operational Creditor) against Kei-Rsos Maritime Limited (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. Upon completion of 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 under Section 8 of the IBC in 2018 and the subsequent filing of the petition in 2019.

## Facts

Docking and Engineering Co. (VSP) Private Limited (Operational Creditor) provided dry dock repair services to Kei-Rsos Maritime Limited (Corporate Debtor) based on two work orders issued on 2015-05-18 (₹47,38,985.69) and 2015-08-20 (₹4,05,148). After completing the work, the operational creditor raised invoices No.170001 and 170002 on 2016-04-22. The corporate debtor made a partial payment of ₹21,00,000 on 2017-04-06 but failed to clear the remaining dues. The operational creditor issued a demand notice under Section 8 of the IBC on 2018-11-12, which was served on 2018-11-16. The operational creditor filed a petition under Section 9 of the IBC on 2019-01-09, claiming a total default of ₹45,44,928.93, including interest at 18% (₹15,47,018.24) on the principal amount of

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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' includes a claim in respect of the provision of services. The debt

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**Reasoning:** The court considered that the operational creditor provided dry dock repair services to

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**Interpretation:** The term 'operational debt' is interpreted broadly to include debts arising

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**Application:** In this case, the debt arose from the provision of dry dock repair services.

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## Parties

- **Judges:** Janab Mohammed…
- **Respondents:** Kei-Rsos Maritime…; Kei-Rsos Maritime…

## Timeline

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

## 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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