# In the matter of Mahadev Profiles Private Limited CP (IB) No. 146-9-HDB-2019

> NCLT judgment dated 2019-08-02. Citation: TCN-2019-NCLT-02133. The case involves a Company Petition filed by M/s. Deepak Fasteners Limited (Operational…

- **Court:** NCLT
- **Order date:** 2 Aug 2019
- **Citation:** TCN-2019-NCLT-02133
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/mahadev-profiles-private-limited-cp-ib-no-146-9-hdb-2019-001c595d

## Summary

### Background

The case involves a Company Petition filed by M/s. Deepak Fasteners Limited (Operational Creditor) against M/s. Mahadev Profiles Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied.

## Facts

Deepak Fasteners Limited (Operational Creditor) filed a petition against Mahadev Profiles Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming default in payment for goods supplied. The Operational Creditor supplied hardware products to the Corporate Debtor based on purchase orders, including purchase order No.MPPL/P.O/251/2016-2017 dated 2017-01-21. The total value of goods supplied was Rs. 19,40,638/-. The Corporate Debtor made an advance payment of Rs. 97,026/- on 2017-01-30. Invoices were raised for the remaining amount, including invoice no.30601 dated 2017-04-24 for Rs.24,773/-, invoice no.30616 dated 2017-04-25 for Rs.6,48,621/-, and invoice no.30736 dated 2017-04-26 for Rs.2,96,924/-. A cheque for

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## Issues and analysis

### Issue 1: Whether the Operational Creditor has proved the existence of an operational debt and default by the …

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

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**Reasoning:** The Adjudicating Authority examined the purchase orders, invoices, statements of

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**Interpretation:** The legal principle is that an operational debt exists when there is a claim in

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**Application:** In this case, the Operational Creditor provided sufficient evidence to prove

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## Parties

- **Judges:** K. Anantha…
- **Appellants:** M/s. Deepak…
- **Respondents:** M/s. MAHADEV…
- **Advocates:** Shri. Abhishek…

## Timeline

- **2017-01-21 — Purchase Ord…**: Purchase order bearing…
- **2017-01-30 — Advance P…**: An amount of Rs.97,026/- was…

## 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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