# In the matter of Millennium Footwear Pvt. Ltd. CP (IB) No. 1253-KB-2018

> NCLT judgment dated 2018-11-29. Citation: TCN-2018-NCLT-00267. The case involves an application filed by M/S Associated Enterprises, an operational creditor,…

- **Court:** NCLT
- **Order date:** 29 Nov 2018
- **Citation:** TCN-2018-NCLT-00267
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/millennium-footwear-pvt-ltd-cp-ib-no-1253-kb-2018-58a7fe19

## Summary

### Background

The case involves an application filed by M/S Associated Enterprises, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Millennium Footwear Private Limited, the corporate debtor. The operational creditor claimed an unpaid operational debt of Rs. 4,72,553/-. The corporate debtor allegedly failed to make payments for goods received from the operational creditor, despite repeated demands and assurances.

## Facts

M/S Associated Enterprises, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Millennium Footwear Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor owed Rs. 4,72,553/- including interest. The operational creditor supplied R.C. Lubricating Oil, R.C. Oil, and Rubber Process Oil to the corporate debtor and raised invoices and challans for Rs. 6,26,164/- in 2016-17, which were received and acknowledged by the corporate debtor. The corporate debtor paid Rs. 2,53,308/- against the invoices, leaving an outstanding principal amount of Rs. 3,72,875/-. The last payment was made on 14.07.2017. The operational creditor issued a demand notice dated

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9(3) of the Insolvency and Bankruptcy Code, 2016, specifies the requirements for

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**Reasoning:** The court noted that the Operational Creditor had furnished copies of the invoices

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**Interpretation:** Section 9(3) outlines the mandatory documents and conditions that must be

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**Application:** The court found that the Operational Creditor had complied with all the

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## Parties

- **Judges:** Jinan…
- **Appellants:** Associated…
- **Respondents:** Millennium…

## Timeline

- **2016-01-01 — Invoices and Challans…**: M/S Associated Enterprises raised invoices and challans for Rs. 6,26,164/- against…
- **2017-07-14 — Last Paymen…**: Millennium Footwear Private Limited made the last payment of Rs. 2,53,308/- against the…

## 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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