# In the matter of Raipur Polymers Pvt. Ltd. CP (lB) No. 52-CTB-2020

> NCLT judgment dated 2021-03-31. Citation: TCN-2021-NCLT-02511. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 31 Mar 2021
- **Citation:** TCN-2021-NCLT-02511
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/raipur-polymers-pvt-ltd-cp-lb-no-52-ctb-2020-8c5420d9

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against the respondent, M/s. Raipur Polymers Pvt. Ltd. The applicant, M/s. Calcopolychem Pvt. Ltd., claims to have regularly supplied goods to the respondent, with outstanding invoices dating from 11.02.2019 to 16.05.2019. The applicant also claims entitlement to 24% for delayed payments as per the invoices and terms. A demand notice was issued on 10.12.2019 and received by the respondent on 13.12.2019, but the respondent did not reply. The respondent argues that there is no default in payment, citing a long-standing business relationship and a fire accident in December 2019 that severely impacted their

…

## Facts

M/s. Calcopolychem Pvt. Ltd. (the applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Raipur Polymers Pvt. Ltd. (the respondent). The applicant claimed that the respondent owed Rs. 18,12,488/- for goods supplied between 11.02.2019 and 16.05.2019. The applicant also claimed entitlement to 24% for delayed payments as per the invoices and terms. A demand notice was issued on 10.12.2019 and received by the respondent on 13.12.2019, but the respondent did not reply. The respondent argued that there was no default in payment, citing a long-standing business relationship, payments made, and a fire accident in December 2019 that severely impacted their

…

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating …

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

…

**Reasoning:** The court considered the arguments presented by both parties and examined the invoices,

…

**Interpretation:** Section 9 provides the mechanism for an operational creditor to trigger CIRP

…

**Application:** The court applied Section 9 to the facts of the case, finding that the

…

## Parties

- **Judges:** Sucharitha…; Satya Ranjan…
- **Appellants:** M/s. Calcopolychem…
- **Respondents:** M/s. Raipur…
- **Advocates:** Debadatta M…; Debadatta…; +1 more

## Timeline

- **2019-02-11 — Invoice…**: First invoice date for…
- **2019-05-16 — Invoice…**: Last invoice date for…

## 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/raipur-polymers-pvt-ltd-cp-lb-no-52-ctb-2020-8c5420d9