# In the matter of T2T Designs Private Limited IBA-106-2020

> NCLT judgment dated 2021-04-12. Citation: TCN-2021-NCLT-02406. The case involves an application filed by M/s. Kishore Enterprises, an operational creditor,…

- **Court:** NCLT
- **Order date:** 12 Apr 2021
- **Citation:** TCN-2021-NCLT-02406
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/t2t-designs-private-limited-iba-106-2020-06d61eda

## Summary

### Background

The case involves an application filed by M/s. Kishore Enterprises, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. T2T Designs Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in the repayment of an operational debt amounting to Rs. 1,89,522/-. The application was filed due to the corporate debtor's failure to pay outstanding dues for goods supplied, despite a demand notice being served. The corporate debtor did not appear for the hearings, leading the tribunal to proceed ex-parte.

## Facts

M/s. Kishore Enterprises, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. T2T Designs Private Limited, the corporate debtor. The operational creditor claimed a default in payment of Rs. 1,89,522/-, which included a principal amount of Rs. 1,23,651/- and interest of Rs. 65,871/-. The debt arose from the supply of 'Sheets facia exterior crodding' to the corporate debtor, for which invoices were raised in April and June 2017. The operational creditor issued a demand notice on 26.07.2019, which was received by the corporate debtor on 29.07.2019. Despite the demand notice, the corporate debtor failed to clear the outstanding dues and did not

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## Issues and analysis

### Issue 1: Whether the Operational Creditor has proved the existence of an 'Operational debt' and its …

**Ratio:** The legal principle is that an operational creditor must demonstrate the existence of an

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**Reasoning:** The tribunal considered the invoices filed by the operational creditor, which were raised

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**Interpretation:** The interpretation of 'operational debt' and 'default' under the IBC, 2016,

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**Application:** In this case, the operational creditor provided invoices for the goods supplied

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## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Appellants:** Kishore Enterprise…
- **Respondents:** T2T Designs…

## Timeline

- **2011-02-10 — Incorporation of…**: M/s. T2T Designs Private Limited…
- **2017-04-01 — Invoices…**: Invoices raised by the Operational Creditor…

## 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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