# In the matter of Shubhkamna Buildtech Pvt. Ltd. Company Petition No. IB- 1059-ND-2018

> NCLT judgment dated 2018-11-26. Citation: TCN-2018-NCLT-00293. M/s Concord Infrastructure Pvt. Ltd. filed an application under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 26 Nov 2018
- **Citation:** TCN-2018-NCLT-00293
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shubhkamna-buildtech-pvt-ltd-company-petition-no-ib-1059-nd-2018-9785fd68

## Summary

### Background

M/s Concord Infrastructure Pvt. Ltd. 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 M/s Shubhkamna Buildtech Private Limited. The applicant, an operational creditor, claimed that the corporate debtor defaulted in paying an outstanding debt of Rs. 2,71,71,296/- exclusive of interest at the rate 18% per annum as on 11.06.2018. The applicant had been engaged by the respondent company as a contractor for carrying out civil work, and an agreement was executed on 07.11.2014. Despite raising invoices and sending reminders, the corporate debtor failed to make payments.

## Facts

M/s Concord Infrastructure Pvt. Ltd. (the 'Applicant') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC') to initiate Corporate Insolvency Resolution Process ('CIRP') against M/s Shubhkamna Buildtech Private Limited (the 'Corporate Debtor'). The Applicant, an operational creditor, claimed that the Corporate Debtor defaulted in paying an outstanding debt. The Applicant was engaged by the Corporate Debtor as a contractor for civil work, with an agreement dated 07.11.2014. The Applicant raised various invoices for the work done. The total debt due and payable by the Corporate Debtor to the Applicant was Rs. 2,71,71,296/- exclusive of interest at 18% per annum as on 11.06.2018. Despite requests and reminders, the Corporate Debtor

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## Issues and analysis

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

**Ratio:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a corporate

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**Reasoning:** The court reasoned that the applicant had submitted the necessary documents, including

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**Interpretation:** Section 9 of the IBC provides a mechanism for operational creditors to recover

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

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## Parties

- **Judges:** DEEPTI M…
- **Appellants:** M/s. Concord…
- **Respondents:** M/s. Shubhkamna…

## Timeline

- **2014-11-07 — Agreement Ex…**: Agreement executed between M/s Concord Infrastructure Pvt. Ltd. and M/s Shubhkamna…
- **2015-03-31 — Invoice…**: Invoice RA 01 raised…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14(1) — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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