# In the matter of SRS Real Infrastructure Limited CP (IB No. 158-Chd-Hry-2018

> NCLT judgment dated 2019-01-21. Citation: TCN-2019-NCLT-05203. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 21 Jan 2019
- **Citation:** TCN-2019-NCLT-05203
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/srs-real-infrastructure-limited-cp-ib-no-158-chd-hry-2018-69e3c4cb

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by an Operational Creditor against a Corporate Debtor. The application was for initiating the insolvency resolution process.

## Facts

Mr. Dharmender Sharma, Proprietor of ADP Interiors and Contractors, filed a petition as an Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, against SRS Real Infrastructure Limited, the Corporate Debtor. The petition sought to initiate the insolvency resolution process. The Adjudicating Authority admitted the petition, declared a moratorium, and appointed Mr. Sandeep Chandna as the Interim Resolution Professional. The order also outlined the duties and responsibilities of the Interim Resolution Professional, including taking control of the Corporate Debtor's assets and preparing an inventory. The Corporate Debtor's board of directors' powers were suspended, and the management of affairs was vested with the Interim Resolution

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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 considered the application filed by the Operational Creditor and examined the

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**Interpretation:** Section 9 provides the mechanism for operational creditors to trigger the

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**Application:** Based on the application and the supporting documents, the court was satisfied

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## Parties

- **Judges:** R.P.Nag…; Pradeep R.…
- **Appellants:** Dharmender…
- **Respondents:** SRS Real Infrastru…

## Timeline

- **2019-01-10 — Admission of Insolvency…**: The insolvency…
- **2019-01-21 — Order Del…**: Order delivered on January 21, 2019, declaring moratorium and appointing Interim…

## 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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