# In the matter of Shri Ganesh Fire Equipments Private Limited Company Petition No. IB-364-ND-2019

> NCLT judgment dated 2020-02-06. Citation: TCN-2020-NCLT-02053. M/S Jasmeet Associates filed an application under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 6 Feb 2020
- **Citation:** TCN-2020-NCLT-02053
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shri-ganesh-fire-equipments-private-limited-company-petition-no-ib-364-nd-2019-9d452e4e

## Summary

### Background

M/S Jasmeet Associates 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, to initiate the Corporate Insolvency Resolution Process (CIRP) against Shri Ganesh Fire Equipments Private Limited. The applicant, an operational creditor, claimed that the corporate debtor had defaulted on payments for goods supplied. The corporate debtor neither filed any reply nor appeared before the bench.

## Facts

M/S Jasmeet Associates, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Shri Ganesh Fire Equipments Private Limited, the corporate debtor. During the period of 22.02.2016 to 26.02.2016, the applicant supplied goods (mix metal scrap) to the corporate debtor amounting to Rs. 32,62,450/- and raised invoices. Despite repeated requests and reminders, the corporate debtor failed to make any payments. The applicant issued a demand notice on 14.12.2018 under Section 8 of the I&B Code, 2016, calling upon the corporate debtor to pay the outstanding amount. The notice was served via speed post. The corporate debtor neither replied to the notice nor made any payment. The application was filed

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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(5) of the IBC, 2016, allows for the admission of an application if it is

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**Reasoning:** The court found that the application was complete and the applicant had established a

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**Interpretation:** Section 9 of the IBC provides the procedure for an operational creditor to

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

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## Parties

- **Judges:** DEEPTI M…; Sh. Hemant Kumar…
- **Appellants:** M/S JASMEET…
- **Respondents:** Ganesh Fire…

## Timeline

- **2016-02-22 — Supply of…**: Applicant supplied goods to the corporate…
- **2016-02-26 — Supply of…**: Applicant supplied goods to the corporate…

## 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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