# In the matter of Maple Realcon Private Limited Company Petition no. (IB)-496 (ND)-2018

> NCLT judgment dated 2018-07-18. Citation: TCN-2018-NCLT-01120. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 18 Jul 2018
- **Citation:** TCN-2018-NCLT-01120
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/maple-realcon-private-limited-company-petition-no-ib-496-nd-2018-ce164210

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/S Bindals Merchandise, an operational creditor, against Maple Realcon Private Limited, the corporate debtor. Bindals Merchandise claimed that it supplied goods (MS Bar) to Maple Realcon based on verbal orders between 13.07.2016 and 05.01.2018, for a housing project. A demand notice was issued on 28.03.2018 for an outstanding amount of Rs. 1,89,29,411/-. The corporate debtor did not reply to the demand notice or clear the debt.

## Facts

M/S Bindals Merchandise, the applicant, is a trading division of Bindal Papers Limited. Maple Realcon Private Limited, the respondent, is a company incorporated under the Companies Act, 1956. Bindals Merchandise supplied MS Bar to Maple Realcon based on verbal orders for their housing project 'Project Misty Height' between 13.07.2016 and 05.01.2018. The operational creditor maintained a ledger account reflecting an outstanding of Rs. 1,89,29,411/-. The authorized signatory of the corporate debtor acknowledged receipt of the goods via signed delivery challans. The corporate debtor did not raise any dispute regarding the quality or quantity of the supplied goods. A demand notice was issued on 28.03.2018 under Section 8 of the IBC, but the corporate debtor neither replied

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## Issues and analysis

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

**Ratio:** Section 9(5)(i)(a) to (e) of the Insolvency and Bankruptcy Code, 2016 outlines the

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**Reasoning:** The court observed that the application was complete and fulfilled the requirements of

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

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

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## Parties

- **Judges:** Ina Mal…; DeepaKr…
- **Appellants:** M/s. Bindals…
- **Respondents:** Maple Realcon…
- **Advocates:** Anurag S…; Gunjan M…

## Timeline

- **2011-09-05 — Board Reso…**: Bindal Papers Limited constituted vide Board resolution for the purpose of dealing in…
- **2016-07-13 — Supply of…**: Applicant supplied goods called MS…

## 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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