# In the matter of Smartec Build Systems Private Limited CP (IB) No.620-9-HDB-2018

> NCLT judgment dated 2019-03-29. Citation: TCN-2019-NCLT-04240. This case involves a Company Petition filed by Mr. Vivek Bansal, the Sole Proprietor of M/s.…

- **Court:** NCLT
- **Order date:** 29 Mar 2019
- **Citation:** TCN-2019-NCLT-04240
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/smartec-build-systems-private-limited-cp-ib-no620-9-hdb-2018-d690528f

## Summary

### Background

This case involves a Company Petition filed by Mr. Vivek Bansal, the Sole Proprietor of M/s. Shri Sai Steel Traders (Petitioner/Operational Creditor), against M/s. SMARTEC BUILD SYSTEMS PRIVATE LIMITED (Respondent/Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code 2016. The petitioner claimed that the respondent defaulted on payments for steel products purchased between April 2018 and May 2018, leading to an outstanding amount of Rs. 22,51,829/-.

## Facts

Mr. Vivek Bansal, operating as Shri Sai Steel Traders, filed a petition against Smartec Build Systems Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim arose from unpaid invoices for steel products supplied by the petitioner to the respondent between April and May 2018. Seven invoices were raised, totaling Rs. 20,77,914/- as the principal amount, with an additional Rs. 1,73,915/- claimed as interest, bringing the total outstanding amount to Rs. 22,51,829/-. The petitioner provided evidence including invoices, delivery challans, purchase orders, E-Way Bills, and dishonored cheques. The respondent issued five cheques which were later dishonored due to 'Insufficiency of Funds'. Despite multiple opportunities and extensions, the

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## Issues and analysis

### Issue 1: Whether the Petitioner/Operational Creditor has proven that a default has occurred for which the …

**Ratio:** The ratio is that if an operational creditor provides sufficient evidence to prove the

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**Reasoning:** The Adjudicating Authority was satisfied that the Petitioner, by placing evidence, proved

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**Interpretation:** This issue involves interpreting Section 9 of the Insolvency and Bankruptcy

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**Application:** In this case, the Petitioner provided invoices, delivery challans, purchase

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## Parties

- **Judges:** K. Anantha…
- **Appellants:** Vivek B…
- **Respondents:** Smartec Build…; Smartec Build…

## Timeline

- **2018-04-01 — Transactions between…**: The Respondent purchased steel products from the Petitioner during the period of April…
- **2018-04-12 — First Invoi…**: Operational Creditor raised the…

## 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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