# M/s Kokila Mining Private Limited vs. M/s Tycoons Industries Pvt. Ltd.

> NCLT judgment dated 2026-06-11. Citation: TCN-2026-NCLT-00567. M/s Kokila Mining Private Limited (Operational Creditor) filed a petition under Section 9 of…

- **Court:** NCLT
- **Order date:** 11 Jun 2026
- **Citation:** TCN-2026-NCLT-00567
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ms-kokila-mining-private-limited-vs-ms-tycoons-industries-pvt-ltd-gvt2l

## Summary

### Background

M/s Kokila Mining Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Tycoons Industries Pvt. Ltd. (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The petition was based on an alleged unpaid operational debt of Rs. 11,02,23,056/- for providing heavy mining equipment and services on a contractual basis. The Operational Creditor claimed the debt was acknowledged by the Corporate Debtor through a signed Reconciliation Statement and confirmed by a NeSL Record of Default.

## Facts

M/s Kokila Mining Private Limited (Operational Creditor) is engaged in providing heavy mining equipment (Tippers and Excavators) on a contractual service basis.

M/s Tycoons Industries Pvt. Ltd. (Corporate Debtor) is engaged in coal mining operations.

In 2022, the Corporate Debtor approached the Operational Creditor for equipment on a lease basis due to operational bottlenecks at its mining sites.

A Work Order (No. CBCMPL/22-23/TIPPER/0010) dated 10.08.2022 was executed between the parties, governing terms for equipment provision.

The Operational Creditor deployed Tippers and Excavators at the Corporate Debtor's mining sites and rendered services.

A second Work Order dated 01.07.2023 was issued, covering the period 01.07.2023 to 20.06.2025, with revised rates.

…

## Issues and analysis

### Issue 1: Whether the application filed under Section 9 …

**Ratio:** Section 9(3) and 9(5)(i)(a) of the Insolvency and Bankruptcy Code, 2016, require the

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**Reasoning:** The NCLT found that the present application satisfies all the conditions for admission

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**Interpretation:** An application is considered complete if it furnishes all necessary documents

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**Application:** The application was deemed complete, fulfilling the statutory requirements for

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## Parties

- **Judges:** KHETRABASI…; Sh. Shishir…
- **Appellants:** M/s Kokila Mining…
- **Respondents:** M/s Tycoons…
- **Other parties:** Joy Deb Cha…; Neehal Mahamulal…
- **Advocates:** Anjani…; Bharat…

## Timeline

- **2022 — Corporate Debtor…**: The Corporate Debtor approached the Operational Creditor requesting Tippers and…
- **2022-01-17 — Purchase Order by Viraj…**: Viraj Steel and Energy Pvt. Ltd. placed a Purchase Order for Rs. 4.58 crores (as per…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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