# In the matter of Vijsun Engineers Private Limited T.C.P. No. 998-I&BC-NCLT-MB-MAH-2017

> NCLT judgment dated 2019-10-10. Citation: TCN-2019-NCLT-01036. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 10 Oct 2019
- **Citation:** TCN-2019-NCLT-01036
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vijsun-engineers-private-limited-tcp-no-998-ibc-nclt-mb-mah-2017-160a4bc9

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Gautam Iron & Steel Trading Company, an operational creditor, against M/s. Vijsun Engineers Private Limited, the corporate debtor. The operational creditor claimed an outstanding debt of Rs. 2.21 Crores along with interest of Rs. 3.10 Crores, totaling Rs. 5,39,00,000/-. The petition was initially filed before the Hon'ble High Court of Judicature at Bombay Bench at Nagpur and later transferred to the National Company Law Tribunal, Mumbai Bench. The respondent/corporate debtor did not appear before the High Court or the NCLT, and no reply was filed. A public notice was issued, but the respondent remained absent.

## Facts

Gautam Iron & Steel Trading Company (Operational Creditor) filed a petition against M/s. Vijsun Engineers Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming an outstanding debt of Rs. 5,39,00,000/- (including principal and interest). The debt arose from the supply of goods by the Operational Creditor to the Corporate Debtor. The Corporate Debtor acknowledged the debt. The petition was initially filed in the High Court and later transferred to NCLT Mumbai. The Corporate Debtor did not appear in either court, nor did they file any reply. A demand notice was served to the Corporate Debtor. The Corporate Debtor failed to make the payment. The Operational Creditor proposed Mr. Charudutt Marathe as the Interim

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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:** The Insolvency and Bankruptcy Code, 2016, allows an operational creditor to initiate the

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**Reasoning:** The court reasoned that the goods were supplied on demand, but the value of the goods was

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**Interpretation:** Section 9 of the IBC allows an operational creditor to initiate CIRP if a debt

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**Application:** The court applied the provisions of Section 9 to the facts of the case, noting

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## Parties

- **Judges:** M.K. Sh…; Chandra Bha…
- **Appellants:** Gautam Iron &…
- **Respondents:** M/s. Vijsun…

## Timeline

- **2016-09-19 — Initial F…**: Petition initially filed before the Hon'ble High Court of Judicature at Bombay Bench at…
- **2017-07-13 — Transfer t…**: Case transferred to National…

## 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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