# In the matter of SBJ Exports & Mfg. Pvt. Ltd. CP No. 659-2016

> NCLT judgment dated 2017-08-16. Citation: TCN-2017-NCLT-00610. The petitioner, M/s BCC Fuba India Limited, an operational creditor, filed a petition for…

- **Court:** NCLT
- **Order date:** 16 Aug 2017
- **Citation:** TCN-2017-NCLT-00610
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sbj-exports-mfg-pvt-ltd-cp-no-659-2016-fcda7eb9

## Summary

### Background

The petitioner, M/s BCC Fuba India Limited, an operational creditor, filed a petition for winding up against the respondent company, M/s SBJ Exports & Mfg. Private Limited, the corporate debtor, under Section 433(e) read with section 434 (i)(a) of the Companies Act, 1956. The case was initially filed before the Delhi High Court on May 30, 2016, and later transferred to the National Company Law Tribunal (NCLT), New Delhi, pursuant to a notification issued by the Ministry of Corporate Affairs. The petitioner claimed that the corporate debtor defaulted on payments for goods/materials supplied between May 2, 2013, and November 8, 2013, with outstanding invoices totaling Rs. 25,35,162/-. The corporate debtor denied the allegations, claiming full payment as per their

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## Facts

M/s BCC Fuba India Limited (the petitioner) claimed to be an operational creditor of M/s SBJ Exports & Mfg. Private Limited (the respondent/corporate debtor). The petitioner supplied goods/materials to the corporate debtor between 02.05.2013 and 08.11.2013, raising invoices totaling Rs. 25,35,162/-. The corporate debtor paid Rs. 10,34,240/- towards the first invoice. The petitioner claimed a default of Rs. 15,00,922/- (principal) plus Rs. 10,30,551/- (interest), totaling Rs. 25,31,473/-. The corporate debtor denied the allegations, stating that they had made full payment as per their ledger account. They referred to a letter dated 19.04.2016, where they requested the petitioner to tally accounts. The corporate debtor also submitted ledger accounts for 2014-15,

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## Issues and analysis

### Issue 1: Whether the petitioner, M/s BCC Fuba India Limited, qualifies as an operational creditor under the …

**Ratio:** An operational creditor is defined as a person to whom an operational debt is owed. An

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**Reasoning:** The petitioner claimed to have supplied goods/materials to the corporate debtor, which

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**Interpretation:** The definition of operational creditor and operational debt under the IBC is

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**Application:** Since the petitioner supplied goods to the corporate debtor, the NCLT

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## Parties

- **Judges:** M. M. K…; DeepaKr…
- **Appellants:** M/s BCC Fuba…
- **Respondents:** M/s SBJ Exports &…

## Timeline

- **2013-05-02 — Supply of…**: Petitioner supplied goods/materials to the corporate debtor between 02.05.2013 and…
- **2013-11-08 — Supply of…**: Petitioner supplied goods/materials to the corporate debtor between 02.05.2013 and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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