# In the matter of Neev Infrastructure Private Limited C.P.(IB) 3719-NCLT-MB-2018

> NCLT judgment dated 2019-09-23. Citation: TCN-2019-NCLT-01321. The case involves an application filed by Nuvoco Vistas Corporation Limited, the Operational…

- **Court:** NCLT
- **Order date:** 23 Sept 2019
- **Citation:** TCN-2019-NCLT-01321
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/neev-infrastructure-private-limited-cpib-3719-nclt-mb-2018-59dd2ba0

## Summary

### Background

The case involves an application filed by Nuvoco Vistas Corporation Limited, the Operational Creditor, against Neev Infrastructure Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The application was filed due to the Corporate Debtor's failure to pay for the 'Ready Mix Concrete (RMC)' supplied by the Operational Creditor based on various invoices between 2016-10-14 and 2016-11-23. The Corporate Debtor acknowledged the invoices and received the material in good condition without protest.

## Facts

Nuvoco Vistas Corporation Limited (Operational Creditor) supplied 'Ready Mix Concrete (RMC)' to Neev Infrastructure Private Limited (Corporate Debtor) based on various invoices between 2016-10-14 and 2016-11-23. The total default claimed is ₹15,27,393/-, including interest at 24% p.a. The Corporate Debtor acknowledged the invoices and received the material in good condition without any protest. The Corporate Debtor failed to pay the due amount under the invoices. The Operational Creditor issued a reminder letter dated 2017-06-09, requesting payment of the outstanding operational debt, but the Corporate Debtor neither replied nor made the payment. The Corporate Debtor accepted and admitted its liability to repay ₹10,82,162/- by acknowledging the Balance Confirmation

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## Issues and analysis

### Issue 1: Whether the Application filed under Section 9 of …

**Ratio:** The application must be complete and filed within the limitation period as per the

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**Reasoning:** The court noted that the application was complete and filed within the proper form within

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**Interpretation:** Section 9 of the I&B Code requires the application to be complete and filed

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**Application:** The court found that the application was complete and filed within the

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## Parties

- **Judges:** Mr V. P.…; Mr Rajesh…
- **Appellants:** Nuvoco Vistas…
- **Respondents:** Neev Infrastructur…

## Timeline

- **2016-10-14 — Supply o…**: Applicant supplied 'Ready Mix Concrete (RMC)'…
- **2016-11-23 — Supply o…**: Applicant supplied 'Ready Mix Concrete (RMC)'…

## 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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