# In the matter of Kudos Chemie Limited CP (IB) No. 50-Chd-Pb-2019

> NCLT judgment dated 2019-07-19. Citation: TCN-2019-NCLT-02424. The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 19 Jul 2019
- **Citation:** TCN-2019-NCLT-02424
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kudos-chemie-limited-cp-ib-no-50-chd-pb-2019-71d74ef0

## Summary

### Background

The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Om Metals, an operational creditor, against Kudos Chemie Limited, the corporate debtor. However, CIRP proceedings have already commenced against Kudos Chemie Limited in CP (IB) No. 277/Chd/Pb/2018.

## Facts

M/s Om Metals, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Kudos Chemie Limited, the corporate debtor. The petition was filed because M/s Om Metals claimed that Kudos Chemie Limited had defaulted on its payments. However, prior to the current petition, CIRP proceedings had already been initiated against Kudos Chemie Limited under CP (IB) No. 277/Chd/Pb/2018. This prior commencement of CIRP proceedings rendered the current petition redundant.

## Issues and analysis

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

**Ratio:** A subsequent petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, is

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**Reasoning:** The court reasoned that since CIRP proceedings were already underway against Kudos Chemie

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**Interpretation:** The interpretation is that once CIRP has been initiated, any subsequent

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**Application:** In this case, the court applied the principle that a subsequent petition under

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## Parties

- **Judges:** M.K. Sh…; Pradeep R.…
- **Appellants:** M/s Om M…
- **Respondents:** Kudos Chemie…

## Timeline

- **2018-01-01 — CIRP Init…**: CIRP proceedings initiated against Kudos Chemie…
- **2019-07-19 — Order Del…**: Order delivered declaring the…

## 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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