# In the matter of Sri Kumaran Builders Private Limited CP-1107-IB-2018

> NCLT judgment dated 2021-12-17. Citation: TCN-2021-NCLT-00137. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 17 Dec 2021
- **Citation:** TCN-2021-NCLT-00137
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sri-kumaran-builders-private-limited-cp-1107-ib-2018-b9ca5c16

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Muthuiah Thevar Rajapandian, RP of Unique Roof Private Limited (Operational Creditor), against Srikumaran Builders Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a sum of Rs. 52,49,850/- along with interest at 18% as principal amount due from the Corporate Debtor. The Operational Creditor had supplied Hallow core Bed, Structures and Design activities to the Corporate Debtor based on eight purchase orders and five invoices. The Corporate Debtor made part payments but failed to pay the entire amount despite repeated reminders. The Operational Creditor issued a demand notice on

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## Facts

Muthuiah Thevar Rajapandian, RP of Unique Roof Private Limited, filed an application against Srikumaran Builders Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. The Operational Creditor claimed Rs. 52,49,850/- plus 18% interest from the due date until 29.05.2018, for supplying Hallow core Bed, Structures, and Design activities based on eight purchase orders and five invoices. The invoices were raised between 25.08.2016 and 11.07.2017. The Corporate Debtor made partial payments but failed to clear the dues despite reminders. A demand notice was issued on 29.05.2018 and received by the Corporate Debtor on 30.05.2018. The Corporate Debtor filed a counter-affidavit denying the allegations, stating that the applicant

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## Issues and analysis

### Issue 1: Whether the Operational Creditor proved the existence of an 'Operational Debt' and its default on …

**Ratio:** The legal principle applied is that if an operational creditor proves the existence of an

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**Reasoning:** The Tribunal reasoned that the Operational Creditor submitted invoices and ledger

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**Interpretation:** This issue involves interpreting Section 9 of the IBC, 2016, which outlines the

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**Application:** The Tribunal applied the ratio to the facts by finding that the Operational

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## Parties

- **Judges:** Sucharit…; SAMEER…
- **Appellants:** MUTHUIAH THEVAR…
- **Respondents:** Srikumaran…

## Timeline

- **2018-05-29 — Demand Notice…**: Operational Creditor issued a demand notice to the Corporate Debtor as stipulated under…
- **2018-05-30 — Demand Notice…**: The Corporate Debtor received the demand…

## 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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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/sri-kumaran-builders-private-limited-cp-1107-ib-2018-b9ca5c16