# In the matter of Noslar International Ltd. (IB)-1031(ND)-2018

> NCLT judgment dated 2018-11-02. Citation: TCN-2018-NCLT-00385. The case involves a petition filed by Surinder Manchanda, proprietor of Sonu Trading Company,…

- **Court:** NCLT
- **Order date:** 2 Nov 2018
- **Citation:** TCN-2018-NCLT-00385
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/noslar-international-ltd-ib-1031nd-2018-92b3e4a5

## Summary

### Background

The case involves a petition filed by Surinder Manchanda, proprietor of Sonu Trading Company, against Noslar International Ltd. for initiating the Corporate Insolvency Resolution Process (CIRP). Sonu Trading Company claimed that Noslar International Ltd., a corporate debtor, failed to pay for goods supplied under a purchase order. The business transactions between the parties were smooth until recently when the goods despatched against confirmed order were not paid for by the Corporate Debtor. The outstanding claim is for the goods supplied under the purchase order-PO No. NPR017001161 dated 02.01.2018.

## Facts

Surinder Manchanda, proprietor of Sonu Trading Company, filed a petition against Noslar International Ltd. for initiating CIRP due to unpaid dues for goods supplied. Sonu Trading Company is engaged in the supply of raw rubber to tyre companies. Noslar International Ltd. was a customer of Sonu Trading Company for over a decade. The outstanding claim is for goods supplied under purchase order NPR017001161 dated 02.01.2018, with the material supplied via Invoice No. STCG095 dated 04.01.2018. The total value of the goods was Rs. 27,35,744/-. The purchase order stipulated payment within 30 days of the invoice, but not later than 90 days. Noslar International Ltd. failed to make the payment, and the outstanding liability was confirmed by them in a balance confirmation letter

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## Issues and analysis

### Issue 1: Whether the petition filed by the operational creditor meets the requirements of Section 9(3)(b) …

**Ratio:** Section 9 of the IBC outlines the procedure for initiating CIRP by an operational

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**Reasoning:** The court noted that the operational creditor had served a demand notice and filed the

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**Interpretation:** Section 9 of the IBC provides the framework for operational creditors to

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**Application:** In this case, the operational creditor, Sonu Trading Company, fulfilled the

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## Parties

- **Judges:** Ina Mal…; DeepaKr…
- **Appellants:** Surinder Ma…
- **Respondents:** Noslar Internation…

## Timeline

- **2018-01-02 — Purchase Ord…**: Purchase order No.…
- **2018-01-04 — Invoice…**: Invoice No. STCG095 was issued…

## 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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