# In the matter of NDA METAOXIDES PRIVATE LIMITED

> NCLT judgment dated 28 May 2025. Citation: TCN-2025-NCLT-00043. The present application was filed by Raj Metal Industries (Operational Creditor) under Section…

- **Court:** NCLT
- **Order date:** 28 May 2025
- **Citation:** TCN-2025-NCLT-00043
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nda-metaoxides-private-limited-70600f6b

## Summary

### Background

The present application was filed by Raj Metal Industries (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against NDA Metaoxides Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed a default in payment amounting to Rs. 3,03,30,537/-, which included both principal and interest. The Corporate Debtor had placed a purchase order for 1,20,000 kg of pure LEAD and the Operational Creditor subsequently issued three invoices for the supplied goods. Payment was due within 20 days from the invoice date, making the debt due on October 4, 2023.

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## Facts

Raj Metal Industries, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against NDA Metaoxides Pvt. Ltd., the Corporate Debtor. The application was based on a default in payment amounting to Rs. 3,03,30,537/-. This amount included both the principal debt and an interest component.

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## Issues and analysis

### Issue 1: Whether there is an operational debt and if…

**Ratio:** An operational debt exists and is due and payable when goods or services have been…

**Reasoning:** The court reasoned that the Operational Creditor supplied goods (Pure LEAD) to the…

**Interpretation:** The court interpreted 'operational debt' as a claim in respect of the provision…

**Application:** The Operational Creditor supplied 1,20,007.00 Kgs of Pure LEAD, raised…

## Parties

- **Judges:** Reeta K…; Kavita Bha…
- **Advocates:** For the applicant:…; For the Respondent…

## Timeline

- **September 14, 2023 — Purchase Orde…**: Corporate Debtor placed a purchase order with the Operational Creditor for 1,20,000 kg of…
- **September 15, 2023 — First Invoice…**: Operational Creditor issued Invoice No. RMI/450/23-24 for supply of 39,932 kg of Pure…

## 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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