# In the matter of Ocean Elevators Pvt. Ltd. CP (IB) No. 1689-KB-2018

> NCLT judgment dated 2019-08-22. Citation: TCN-2019-NCLT-01847. The case involves an application filed by M/s. Wittur Elevator Components India Private Limited…

- **Court:** NCLT
- **Order date:** 22 Aug 2019
- **Citation:** TCN-2019-NCLT-01847
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ocean-elevators-pvt-ltd-cp-ib-no-1689-kb-2018-87194614

## Summary

### Background

The case involves an application filed by M/s. Wittur Elevator Components India Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ocean Elevators Pvt. Ltd. (Corporate Debtor). The Operational Creditor alleges that the Corporate Debtor defaulted in payment of Rs. 86,79,612/- for elevator components supplied. The Corporate Debtor disputes the claim, contending that the application is not maintainable, the claim is barred by limitation, and there is no privity of contract.

## Facts

M/s. Wittur Elevator Components India Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ocean Elevators Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted in payment of Rs. 86,79,612/- for elevator components supplied. The Operational Creditor contended that they had business transactions with the Corporate Debtor and supplied elevator components as described in the invoices. The Corporate Debtor received the goods but failed to pay the total amount. The Operational Creditor demanded the amount via emails, and the Corporate Debtor issued seven cheques that were dishonored. The

…

## Issues and analysis

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

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, allows an operational creditor to

…

**Reasoning:** The court found that the Operational Creditor had supplied goods to the Corporate Debtor

…

**Interpretation:** Section 9 provides the mechanism for operational creditors to recover debts

…

**Application:** The court applied Section 9 to the facts of the case and found that the

…

## Parties

- **Judges:** Jinan…; Harish Chander…
- **Appellants:** Wittur Elevator…
- **Respondents:** Ocean Elevators…

## Timeline

- **2016-01-01 — Insolvency and…**: The Insolvency and Bankruptcy…
- **2016-11-06 — Operational Creditor…**: The Operational Creditor demanded the outstanding amount by way of certain E-mails of…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/ocean-elevators-pvt-ltd-cp-ib-no-1689-kb-2018-87194614