# In the matter of METLORD ALLOYS PRIVATE LIMITED

> Read the full IBC case summary for In the matter of METLORD ALLOYS PRIVATE LIMITED. NCLT judgment dated 2025-07-17. Citation: TCN-2025-NCLT-01155.

- **Court:** NCLT
- **Order date:** 17 Jul 2025
- **Citation:** TCN-2025-NCLT-01155
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/metlord-alloys-private-limited-c196a671

## Summary

### Background

The application was filed by the Operational Creditor under Section 9 of the IBC to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to an alleged default in payment for goods supplied.

## Facts

M/s. Bhandari Metal Distributors, the 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. Metlord Alloys Private Limited, the Corporate Debtor. The application was filed on September 16, 2023, alleging a total operational debt of Rs. 1,59,38,475/-, with the date of default being May 19, 2023. This amount includes Rs. 1,39,63,961/- as principal and Rs. 19,74,514/- as accrued interest at 18% per annum.

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## Issues and analysis

### Issue 1: Whether there is an existence of an operational…

**Ratio:** An operational debt and default exist when the Corporate Debtor admits principal…

**Reasoning:** The Corporate Debtor admitted the principal liability of Rs. 1,39,63,961/- in its reply…

**Interpretation:** The Tribunal interpreted Section 9 of the IBC, guided by the Supreme Court's…

**Application:** The Corporate Debtor's admission of principal liability, coupled with its…

## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Advocates:** For Petitioner/…; A.Vikash, A…; +2 more

## Timeline

- **December 10, 2003 — Corporate Debtor…**: M/s. Metlord Alloys Private…
- **May 19, 2023 — Date of D…**: The date of default for the…

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