# In the matter of Winsome Diamond & Jewellery Ltd. C.P. (IB) No. 208-9-NCLT-AHM-2017

> NCLT judgment dated 2018-02-13. Citation: TCN-2018-NCLT-01839. M/s. Ramesh T. Mehta (HUF), through its Karta Shri Ramesh T. Mehta, filed a petition under…

- **Court:** NCLT
- **Order date:** 13 Feb 2018
- **Citation:** TCN-2018-NCLT-01839
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/winsome-diamond-jewellery-ltd-cp-ib-no-208-9-nclt-ahm-2017-7edba010

## Summary

### Background

M/s. Ramesh T. Mehta (HUF), through its Karta Shri Ramesh T. Mehta, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Winsome Diamonds & Jewellery Limited, referred to as the 'Corporate Debtor'. The petitioner, an operational creditor, claimed that the corporate debtor defaulted in payment for services provided, specifically cutting and polishing rough diamonds. The corporate debtor acknowledged the debt and made partial payments but failed to clear the outstanding dues.

## Facts

M/s. Ramesh T. Mehta (HUF), the petitioner, is engaged in providing labor services for cutting and polishing diamonds. Winsome Diamonds & Jewellery Limited, the respondent, is a company engaged in the business of manufacturing necklaces and required laborers for cutting and polishing diamonds. Between the financial years 2012-2013, the petitioner provided services to the respondent for polishing and cutting rough diamonds. The petitioner raised invoices for these services, totaling Rs. 29,48,386. The respondent acknowledged the amount, deducted tax, and issued TDS certificates. The respondent made partial payments of Rs. 11,89,390 after repeated demands and legal notices. The petitioner issued a demand notice under Section 8 of the Insolvency and Bankruptcy Code on

…

## Issues and analysis

### Issue 1: Whether the petition filed by the operational creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency

…

**Reasoning:** The court considered the documents filed by the petitioner, including invoices, TDS

…

**Interpretation:** Section 9 requires the operational creditor to demonstrate the existence of a

…

**Application:** The petitioner filed all necessary documents, including invoices, TDS

…

## Parties

- **Judges:** BIKKI RAVEENDRA…; Manorama…
- **Appellants:** Ramesh T. Mehta…
- **Respondents:** Winsome Diamonds…; Winsome Diamond &…

## Timeline

- **2012-12-04 — Invoice…**: Invoice raised for Rs.…
- **2012-12-05 — Invoice…**: Invoice raised for Rs.…

## 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/winsome-diamond-jewellery-ltd-cp-ib-no-208-9-nclt-ahm-2017-7edba010