# In the matter of Microsun Solar Tech Private Limited C.P. (IB) No. 41-BB-2021

> NCLT judgment dated 2021-04-06. Citation: TCN-2021-NCLT-02463. The case involves an application filed by M/s. SV Solar Solutions, an operational creditor,…

- **Court:** NCLT
- **Order date:** 6 Apr 2021
- **Citation:** TCN-2021-NCLT-02463
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/microsun-solar-tech-private-limited-cp-ib-no-41-bb-2021-8741b882

## Summary

### Background

The case involves an application filed by M/s. SV Solar Solutions, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Microsun Solar Tech Private Limited, the corporate debtor, due to a default in payment of Rs. 1,23,12,720/-. The operational creditor supplied solar cells to the corporate debtor and raised invoices between 19.01.2019 and 29.03.2019, which remained unpaid. The corporate debtor acknowledged the outstanding amount.

## Facts

M/s. SV Solar Solutions, the operational creditor, filed an application under Section 9 of the IBC to initiate CIRP against M/s. Microsun Solar Tech Private Limited, the corporate debtor. The operational creditor supplied solar cells to the corporate debtor, raising invoices from 19.01.2019 to 29.03.2019. The corporate debtor defaulted on payments amounting to Rs. 1,23,12,720/- for 16 invoices. The corporate debtor acknowledged the outstanding amount in a letter dated 13.03.2019 and in their ledger statement as of 01.04.2019. The corporate debtor cited financial difficulties and also mentioned filing an application under Section 7 of the IBC against M/s. Maharaja Techno Chromes Private Limited, where M/s. Maharaja Techno Chromes Private Limited has given its assets as

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## Issues and analysis

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

**Ratio:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a corporate

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**Reasoning:** The NCLT considered the provisions of Section 9 of the IBC and the submissions of both

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

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**Application:** In this case, the operational creditor demonstrated the existence of an

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## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** M/s. SV Solar…
- **Respondents:** M/s. Microsun…

## Timeline

- **2019-01-19 — Invoice Perio…**: Start date of the period during which the operational creditor raised invoices to the…
- **2019-03-29 — Invoice Per…**: End date of the period during which the operational creditor raised invoices to the…

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