# In the matter of P. K. Ores Private Limited CP No. 126-2017

> NCLT judgment dated 2017-04-03. Citation: TCN-2017-NCLT-00929. The petition was filed by the Operational Creditor under Section 9(3) of the Insolvency &…

- **Court:** NCLT
- **Order date:** 3 Apr 2017
- **Citation:** TCN-2017-NCLT-00929
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/p-k-ores-private-limited-cp-no-126-2017-9d5e3957

## Summary

### Background

The petition was filed by the Operational Creditor under Section 9(3) of the Insolvency & Bankruptcy Code, 2016 against the Corporate Debtor. The petitioner claimed that the Corporate Debtor failed to pay Rs. 9,76,095 despite a notice served on 16.01.2017. The petitioner annexed copies of invoices and a track report as proof of service. The respondent company did not respond to the statutory notices dated 22.01.2017 and did not raise any dispute regarding the unpaid operational debt/dues.

## Facts

P.K. ORES Private Limited is the Corporate Debtor with its registered office at Station Road, Barbil, District- Keonjhar, Orissa, Pin-758035. Tractors India Private Limited, having its Registered Office at Godrej Waterside, Tower-II, 7th floor, Unit No.705, Block DP, Sector-V, Salt Lake, Kolkata – 700 091, is the Operational Creditor. The Corporate Debtor allegedly defaulted in paying Rs. 9,76,095 to the Operational Creditor. A notice was served on the Corporate Debtor on 16.01.2017, but the payment was not made. The Corporate Debtor did not respond to the statutory notices dated 22.01.2017. The Operational Creditor filed a petition under Section 9(3) of the Insolvency & Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP).

## Issues and analysis

### Issue 1: Whether the Corporate Debtor committed a default in making payment of Rs. 9,76,095 to the …

**Ratio:** The Insolvency and Bankruptcy Code, 2016 defines 'default' as non-payment of debt when it

…

**Reasoning:** The court relied on the documents filed by the petitioner, which included the notice

…

**Interpretation:** The court interpreted the definition of 'default' under the IBC to include the

…

**Application:** Based on the evidence presented, the court applied the definition of 'default'

…

## Parties

- **Judges:** Vijai Prata…; S. VIJAYARA…
- **Respondents:** P.K. Ores Private…

## Timeline

- **2017-01-16 — Notice D…**: Date of the notice served to the Corporate…
- **2017-01-22 — Statutory Not…**: Date of the statutory notices to which…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9(3) — Application for initiation of corporate…](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/p-k-ores-private-limited-cp-no-126-2017-9d5e3957