# In the matter of MDI Laboratories India Private Limited C.P. (IB) 1785-2018

> NCLT judgment dated 2019-06-17. Citation: TCN-2019-NCLT-02869. Tangent Services filed a Company Petition under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 17 Jun 2019
- **Citation:** TCN-2019-NCLT-02869
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/mdi-laboratories-india-private-limited-cp-ib-1785-2018-097b60f3

## Summary

### Background

Tangent Services filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against MDI Laboratories India Private Limited. The petition alleges that MDI Laboratories defaulted on payments amounting to Rs. 2,64,981/-, inclusive of interest calculated at 3% p.m. on delayed payments. The petitioner had supplied medical devices, instruments, systems, and reagents to the corporate debtor, raising invoices from 28.10.2014 to 25.02.2015 totaling Rs. 1,69,890/-. The petitioner requested overdue payments via email on 10.08.2015.

## Facts

Tangent Services (Petitioner) filed a petition against MDI Laboratories India Private Limited (Corporate Debtor) under Section 9 of the IBC, alleging a default in payment of Rs. 2,64,981/-, which included interest. The Petitioner supplied medical devices, instruments, systems, and reagents to the Corporate Debtor between 28.10.2014 and 25.02.2015, raising invoices totaling Rs. 1,69,890/-. The Petitioner requested payment via email on 10.08.2015. The Corporate Debtor, in an email dated 08.09.2015, requested a statement of account and pending credit notes. The Petitioner agreed to provide a credit note for the VAT difference (Rs. 8,941/-) and requested the balance payment. The Corporate Debtor acknowledged the debt but requested the credit note before releasing payment.

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## Issues and analysis

### Issue 1: Whether the disputes raised by the Corporate Debtor are genuine and fall within the purview of …

**Ratio:** Section 5(6) of the Code defines 'dispute' as including a suit or arbitration proceedings

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**Reasoning:** The NCLT considered the disputes raised by the Corporate Debtor, including non-supply,

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**Interpretation:** The court interpreted Section 5(6) of the Code and the Supreme Court's ruling

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**Application:** The NCLT applied the ratio to the facts of the case, finding that the disputes

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## Parties

- **Judges:** Bhaskara Pantula…; V. Nallasen…
- **Appellants:** Tangent Se…
- **Respondents:** MDI Laboratories…

## Timeline

- **2014-10-28 — Invoice R…**: Petitioner raised invoices…
- **2015-02-25 — Invoice R…**: Petitioner raised invoices…

## 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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