# In the matter of KRP Infrastrauctures & Builders Private Limited Company Petition (IB)No.172-ALD-2019

> NCLT judgment dated 2019-12-17. Citation: TCN-2019-NCLT-00117. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 17 Dec 2019
- **Citation:** TCN-2019-NCLT-00117
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/krp-infrastrauctures-builders-private-limited-company-petition-ibno172-ald-2019-ce1fe87a

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by M/s Creative Enterprises, an operational creditor, against KRP Infrastructures & Builders Private Limited, the corporate debtor. The operational creditor supplied ready-mix concrete materials and pumping services to the corporate debtor, for which an amount of Rs. 17,32,775/- was debited. The corporate debtor issued four cheques to settle the outstanding amount, but these were dishonored due to 'Insufficient fund'.

## Facts

M/s Creative Enterprises (operational creditor) supplied ready-mix concrete materials and pumping services to KRP Infrastructures & Builders Private Limited (corporate debtor). The amount debited for these services was Rs. 17,32,775, verified from the operational creditor's ledger. The corporate debtor issued four cheques dated 06.06.2018 to settle the debt, but they were dishonored due to 'Insufficient fund'. The operational creditor issued a demand notice on 12.09.2018, claiming Rs. 17,32,775 plus interest of Rs. 2,32,615, served to the corporate debtor's registered office and via email on 19.09.2018. The corporate debtor acknowledged the debt by offering cheques. The corporate debtor failed to liquidate its liability, leading the operational creditor to file a

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## Issues and analysis

### Issue 1: Whether the operational creditor has provided sufficient evidence to prove the debt and default by …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, requires the operational creditor

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**Reasoning:** The Adjudicating Authority examined the invoices, ledger accounts, and bank statements of

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**Interpretation:** The issuance of cheques by the corporate debtor, even if subsequently

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**Application:** In this case, the operational creditor provided invoices, ledger accounts, and

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## Parties

- **Judges:** Rajesh Daya…
- **Appellants:** M/s Creative…
- **Respondents:** KRP Infrastructure…; M/s KRP Infrastruc…

## Timeline

- **2018-06-06 — Cheques I…**: Corporate debtor issued four cheques…
- **2018-09-12 — Demand Notice…**: Operational creditor issued a demand notice…

## 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)

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