# In the matter of PSR METALS PRIVATE LIMITED

> NCLT judgment dated 26 May 2025. Citation: TCN-2025-NCLT-00048. The Operational Creditor filed an application under Section 9 of the IBC to initiate CIRP…

- **Court:** NCLT
- **Order date:** 26 May 2025
- **Citation:** TCN-2025-NCLT-00048
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/psr-metals-private-limited-12c1a3f0

## Summary

### Background

The Operational Creditor filed an application under Section 9 of the IBC to initiate CIRP against the Corporate Debtor due to its failure to pay an outstanding amount of Rs. 1,06,68,674/- for supplied goods. The Corporate Debtor admitted the debt but requested two years to repay due to financial crisis.

## Facts

M/s APCO Motors, the operational creditor, through its proprietor Ms. Naseem Arif, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s PSR Metals Private Limited, the corporate debtor, for an outstanding amount of Rs. 1,06,68,674/-. The stated date of default was March 31, 2024.

…

## Issues and analysis

### Issue 1: Whether there is a Debt…

**Ratio:** A legally enforceable debt and a default in payment were established, as the Corporate…

**Reasoning:** The Corporate Debtor admitted its liability for the outstanding amount of Rs.…

**Interpretation:** The NCLT interpreted the Corporate Debtor's admission of liability and…

**Application:** Given the Corporate Debtor's admission of the outstanding amount and its…

## Parties

- **Judges:** Praveen…; Ashish…
- **Advocates:** For the Operationa…

## Timeline

- **October 4, 2023 — Last supply o…**: The Operational Creditor supplied lead ingots/spares to the Corporate Debtor up to this…
- **October 21, 2023 — Part payment by…**: The Corporate Debtor made a part…

---

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/psr-metals-private-limited-12c1a3f0