# In the matter of Manju J Homes India Limited Company Petition No. IB- 1058-ND-2018

> NCLT judgment dated 2019-09-02. Citation: TCN-2019-NCLT-01640. The case involves an application filed by M/s Gagan Ferrotech Limited, an operational creditor,…

- **Court:** NCLT
- **Order date:** 2 Sept 2019
- **Citation:** TCN-2019-NCLT-01640
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/manju-j-homes-india-limited-company-petition-no-ib-1058-nd-2018-361696f9

## Summary

### Background

The case involves an application filed by M/s Gagan Ferrotech Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Manju J Homes India Limited, the corporate debtor. The applicant claims that the corporate debtor defaulted on payments for the supply of Steel TMT Bars. The application was filed due to unpaid invoices from August 2016 to December 2016.

## Facts

M/s Gagan Ferrotech Limited (the applicant/operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Manju J Homes India Limited (the respondent/corporate debtor). The applicant supplied Steel TMT Bars to the respondent based on purchase orders. Invoices were raised, and part payments were made. However, invoices from August 2016 to December 2016 remained unpaid. The applicant sent a demand notice dated 22.06.2018 under Section 8 of the IBC, 2016, for outstanding payments of Rs. 66,03,856.78/- along with interest. The notice was served on 27.06.2018. The total debt due and payable is Rs. 84,47,147/-, including principal and interest till 20.06.2018.

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9(5) of the IBC, 2016 specifies the requirements for admitting an application

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**Reasoning:** The Tribunal considered the facts presented by the applicant, including the unpaid

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**Interpretation:** Section 9 of the IBC, 2016 provides a mechanism for operational creditors to

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**Application:** The Tribunal found that the applicant had established the default in payment of

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## Parties

- **Judges:** DEEPTI M…; Sh. Hemant Kumar…
- **Appellants:** M/s GAGAN…
- **Respondents:** M/s MANJU J HOMES…

## Timeline

- **2016-08-01 — Unpaid In…**: Invoices from August 2016…
- **2016-12-02 — Default…**: The applicant mentioned that…

## 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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