# In the matter of Omega Infrabuild Private Limited Company Petition No. IB-488-ND-2019

> NCLT judgment dated 2019-10-17. Citation: TCN-2019-NCLT-00935. The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read…

- **Court:** NCLT
- **Order date:** 17 Oct 2019
- **Citation:** TCN-2019-NCLT-00935
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/omega-infrabuild-private-limited-company-petition-no-ib-488-nd-2019-e8588278

## Summary

### Background

The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy Code (Application to Adjudicating Authority) Rules, 2016, by Mr. Anand Prakash, seeking to initiate the Corporate Insolvency Resolution Process against M/s Omega Infrabuild Private Limited. The corporate debtor is a private limited company incorporated under the Companies Act, 1956 on 09.02.2011. The applicant was appointed as AGM-Finance in the corporate debtor vide appointment letter dated 13.08.2013 and was responsible for managing the accounts, finance, and taxation related activities of the corporate debtor.

## Facts

Mr. Anand Prakash, the applicant, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process against M/s Omega Infrabuild Private Limited, the corporate debtor. The applicant was employed as AGM-Finance in the corporate debtor company, with responsibilities including managing accounts, finance, and taxation. The applicant's salary was INR 1,00,00/- per month. Timely payments were made until September 2015, after which the corporate debtor provided assurances but failed to make full payments. The total outstanding operational debt was Rs 17,34,900/-. The applicant issued a demand notice on 11.12.2018. The corporate debtor claimed to have paid Rs 1,75,000/- for the financial year

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## Issues and analysis

### Issue 1: Whether the application is complete as per the requirements of Section 9 of the Insolvency and …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, outlines the requirements for an

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**Reasoning:** The Tribunal found that the application was complete as per the requirements of Section 9

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**Interpretation:** Section 9 specifies the necessary documents and information required for an

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**Application:** The Tribunal determined that the applicant had provided all necessary

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## Parties

- **Judges:** DEEPTI M…; Sh. Hemant Kumar…
- **Appellants:** ANAND PR…
- **Respondents:** M/S OMEGA…

## Timeline

- **2011-02-09 — Incorporation of…**: M/s Omega Infrabuild Private Limited…
- **2013-08-13 — Appointment of…**: Mr. Anand Prakash appointed as…

## 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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