# in the matter of Swiber Offshore (India) Pvt. Ltd. CP No. 51-NCLT-MAH-2017

> NCLT judgment dated 2017-03-31. Citation: TCN-2017-NCLT-00931. The case involves an application filed by Mr. Ajay Joseph, the operational creditor, against…

- **Court:** NCLT
- **Order date:** 31 Mar 2017
- **Citation:** TCN-2017-NCLT-00931
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/swiber-offshore-india-pvt-ltd-cp-no-51-nclt-mah-2017-b598e39f

## Summary

### Background

The case involves an application filed by Mr. Ajay Joseph, the operational creditor, against M/s. Swiber Offshore (India) Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, and Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The operational creditor claims that the corporate debtor defaulted in repaying a sum of ₹48,14,639/-. Previously, the operational creditor had filed a company petition for winding up the company before the Hon'ble High Court of Bombay, which was later transferred to NCLT Mumbai Bench.

## Facts

Mr. Ajay Joseph, proprietor of M/s. Global Marine Supply Co., filed an operational creditor petition against M/s. Swiber Offshore (India) Pvt. Ltd. The petition claims that Swiber Offshore defaulted in repaying ₹48,14,639/- related to 51 invoices issued between 2015-12-31 and 2016-05-19. Previously, Mr. Joseph had filed a company petition (No. 734 of 2016) for winding up Swiber Offshore before the Bombay High Court, which was later transferred to the NCLT Mumbai Bench. A statutory notice was issued to Swiber Offshore under Sections 433 and 434 of the Companies Act, 1956, on 2016-08-10, and received on 2016-08-12, but received no response. Swiber Offshore acknowledged the debt in an email dated 2016-07-12, stating inability to process payment until August 2016. The

…

## Issues and analysis

### Issue 1: Whether there is a debt as defined in …

**Ratio:** Section 3(11) of the I&B Code defines 'debt' as a liability or obligation in respect

…

**Reasoning:** The petition clearly reveals that there is a debt outstanding from the corporate debtor

…

**Interpretation:** The interpretation of Section 3(11) confirms that the outstanding amount for

…

**Application:** The outstanding amount of ₹48,14,639/- for the 51 invoices raised by the

…

## Parties

- **Judges:** B.S.V. Prakash…; V. Nallasen…
- **Appellants:** Ajay Jo…
- **Respondents:** Swiber Offshore…

## Timeline

- **2015-12-31 — Invoice Perio…**: Start date of the period for…
- **2016-05-19 — Invoice Per…**: End date of the period for…

## 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)

---

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/swiber-offshore-india-pvt-ltd-cp-no-51-nclt-mah-2017-b598e39f