# In the matter of Kruti Infracons Private Limited C.P. (IB) 2357-MB-2019

> NCLT judgment dated 2019-11-04. Citation: TCN-2019-NCLT-00739. Bigbloc Construction Limited filed a Company Petition under Section 8 and 9 of the Insolvency…

- **Court:** NCLT
- **Order date:** 4 Nov 2019
- **Citation:** TCN-2019-NCLT-00739
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kruti-infracons-private-limited-cp-ib-2357-mb-2019-6747e437

## Summary

### Background

Bigbloc Construction Limited filed a Company Petition under Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Kruti Infracons Private Limited. The petition alleges that Kruti Infracons defaulted on a payment of Rs. 4,99,916.65, which includes interest calculated at 24% p.a. up to March 29, 2019. The petitioner sold AAC Blocks to the corporate debtor between July 2016 and February 2018, raising invoices for the same. A demand notice was issued on January 21, 2019, but was returned undelivered due to an insufficient address. Subsequently, notices were sent to the directors, with one being served and the other returned due to an expired validity period. The petitioner was permitted

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## Facts

Bigbloc Construction Limited (Petitioner) sought to initiate Corporate Insolvency Resolution Process (CIRP) against Kruti Infracons Private Limited (Corporate Debtor) under Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016. The Petitioner claimed that the Corporate Debtor defaulted on a payment of Rs. 4,99,916.65, including interest calculated at 24% p.a. up to March 29, 2019. The debt arose from the sale of AAC Blocks by the Petitioner to the Corporate Debtor between July 2016 and February 2018, for which invoices were raised. A demand notice was issued on January 21, 2019, but was returned undelivered due to an insufficient address. Subsequently, notices were sent to the directors of the Corporate Debtor, with one being served and the other returned due to

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor is in compliance with the provisions of …

**Ratio:** Section 8 and 9 of the Insolvency & Bankruptcy Code, 2016, outline the requirements

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**Reasoning:** The court examined the application to ensure it met the statutory requirements, including

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**Interpretation:** The interpretation of Section 8 and 9 involves ensuring that the Operational

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**Application:** The court applied the provisions of Section 8 and 9 to the facts of the case,

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## Parties

- **Judges:** SUCHITRAKAN…; V. Nallasen…
- **Appellants:** Bigbloc Constructi…
- **Respondents:** Kruti Infracons…
- **Advocates:** V. P. V…; Dhiren R…

## Timeline

- **2016-07-01 — Invoices…**: Petitioner sold AAC Blocks and raised invoices on the Corporate Debtor from July 2016 to…
- **2018-02-01 — Invoices…**: Petitioner sold AAC Blocks and raised invoices on the Corporate Debtor from July 2016 to…

## 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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