# In the matter of Shree Manickkam Infrastructure Private Limited CP-261-(IB)-CB-2018

> NCLT judgment dated 2018-04-17. Citation: TCN-2018-NCLT-01537. The case involves an application filed by Kamachi Industries Ltd, the Operational Creditor,…

- **Court:** NCLT
- **Order date:** 17 Apr 2018
- **Citation:** TCN-2018-NCLT-01537
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shree-manickkam-infrastructure-private-limited-cp-261-ib-cb-2018-02c5040e

## Summary

### Background

The case involves an application filed by Kamachi Industries Ltd, the Operational Creditor, against Shree Manickkam Infrastructure Pvt Ltd, the Corporate Debtor, 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 Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declare a moratorium, and appoint an Interim Resolution Professional (IRP).

## Facts

Kamachi Industries Ltd (Operational Creditor) filed an application against Shree Manickkam Infrastructure Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor approached the Operational Creditor for the supply of TMT Bars Steel and placed orders. The Operational Creditor sold and delivered the TMT Bars to the Corporate Debtor and raised several invoices. The Operational Creditor claimed an outstanding debt of Rs. 24,05,756/- as principal and Rs. 6,40,846/- as interest, totaling Rs. 30,46,602/- as of 26.12.2016. The Corporate Debtor made a part payment of Rs. 5,00,000/- on 26.12.2016 for one invoice, but payments for the remaining five invoices remained outstanding. The Operational Creditor issued a demand notice

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency and …

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

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**Reasoning:** The court noted that the Operational Creditor had complied with the requirements of

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**Interpretation:** Section 9 of the IBC is interpreted to mean that if an operational creditor

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**Application:** The court applied Section 9 to the facts, noting that the Operational Creditor

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## Parties

- **Judges:** Ch. Mohd Sharief…
- **Appellants:** Kamachi Industries…
- **Respondents:** SHREE MANICKKAM…
- **Advocates:** PREETHI. S.…

## Timeline

- **2017-12-19 — Demand Notice…**: The Operational Creditor issued a Demand Notice to the Corporate Debtor under Section…
- **2018-03-26 — Notice to Corporate…**: The Registry was directed to issue notice to the Corporate Debtor, and the Operational…

## 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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