# In the matter of Meridian Extrusions Pvt. Ltd. CP No. (IB) 197-9-NCLT-AHM-2017

> NCLT judgment dated 2018-03-05. Citation: TCN-2018-NCLT-01752. JJ Plastalloys Private Limited filed a petition as an operational creditor under Section 9 of…

- **Court:** NCLT
- **Order date:** 5 Mar 2018
- **Citation:** TCN-2018-NCLT-01752
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/meridian-extrusions-pvt-ltd-cp-no-ib-197-9-nclt-ahm-2017-1caa6eec

## Summary

### Background

JJ Plastalloys Private Limited filed a petition as an operational creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Meridian Extrusions Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor failed to pay outstanding dues for supplied goods. Notices were issued to the corporate debtor, but they were returned unserved with remarks such as 'company is closed' or 'no resident at the bungalow'.

## Facts

JJ Plastalloys Private Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Meridian Extrusions Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor owed Rs. 11,85,821/- for goods supplied under two invoices dated October 20, 2016, and November 4, 2016. Despite repeated reminders, the corporate debtor failed to pay the outstanding amount. The operational creditor issued a demand notice dated September 6, 2017, as required under Section 8 of the IB Code, but the corporate debtor did not respond. Notices sent to the corporate debtor were returned unserved with remarks such as 'company is closed' or 'no

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor, JJ Plastalloys Private Limited, under …

**Ratio:** Section 9(5)(i) of the Insolvency and Bankruptcy Code, 2016, allows for the admission of

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**Reasoning:** The Adjudicating Authority examined the documents submitted by the operational creditor,

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

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**Application:** In this case, the Adjudicating Authority found that a debt of Rs. 11,85,821/-

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## Parties

- **Judges:** Manorama…
- **Appellants:** JJ Plastalloys…
- **Respondents:** Meridian Extrusion…

## Timeline

- **2016-10-20 — Invoice R…**: Operational creditor raised an…
- **2016-11-04 — Invoice R…**: Operational creditor raised…

## 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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