# 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-01726. 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-01726
- **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-2019-7f177ad2

## 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. The corporate debtor failed to clear the dues despite invoices being raised in 2016, leading to the operational creditor issuing a demand notice in 2018 and subsequently filing the present 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 18.05.2015 for ₹47,38,985.69 and on 20.08.2015 for ₹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 by 06.04.2017 but failed to 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 then filed a petition under Section 9 of the IBC on 09.01.2019, claiming a total default of ₹45,44,928.93, including interest at 18% amounting to

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 is maintainable …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016 allows an operational creditor to

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**Reasoning:** The court reasoned that the corporate debtor admitted to the debt, notwithstanding the

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**Interpretation:** Section 9 of the IBC provides a mechanism for operational creditors to recover

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**Application:** The court applied the provisions of Section 9 to the facts of the case, noting

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## Parties

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

## Timeline

- **2015-05-18 — Work Order…**: Respondent issued a work order amounting to ₹47,38,985.69 to the petitioner for dry dock…
- **2015-08-20 — Work Order…**: Respondent issued a work order amounting to ₹4,05,148 to the petitioner for dry dock…

## 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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