# Bhanu Cerglaze Pvt Ltd vs. Regma Ceramics Pvt Ltd

> NCLT judgment dated 2026-08-07. Citation: TCN-2026-NCLT-00889. Bhanu Cerglaze Pvt Ltd (Operational Creditor) filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 7 Aug 2026
- **Citation:** TCN-2026-NCLT-00889
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/bhanu-cerglaze-pvt-ltd-vs-regma-ceramics-pvt-ltd-y04jo

## Summary

### Background

Bhanu Cerglaze Pvt Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Regma Ceramics Pvt Ltd (Corporate Debtor) for an unpaid operational debt of Rs. 1,26,98,561/-. The debt arose from the supply of ceramic glaze frits between 2017 and 2021. The Corporate Debtor contended that the debt was settled through a Memorandum of Settlement (MoS) dated 16.11.2018 and a Credit Note, and that subsequent invoices were also paid. They also raised the issue of the application being barred by limitation.

## Facts

Bhanu Cerglaze Pvt Ltd (Operational Creditor) supplied ceramic glaze frits to Regma Ceramics Pvt Ltd (Corporate Debtor) between 2017 and 2021.

The total value of goods supplied amounted to approximately Rs. 2,47,05,267/-.

The Corporate Debtor made part payments of Rs. 1,72,39,911/- between 2017 and 2022, with the last payment on 08.07.2021.

An outstanding principal amount of Rs. 75,58,667/- remained unpaid.

Interest at 24% p.a. for the period 01.08.2021 to 30.05.2024 amounted to Rs. 51,39,894/-.

The total operational debt in default, including interest, aggregated to Rs. 1,26,98,561/-.

The Operational Creditor issued a Demand Notice dated 31.05.2024 in Form-3 and Form-4 under Section 8 of the IBC, 2016.

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## Issues and analysis

### Issue 1: Whether an operational debt is due and payable by the Corporate Debtor, whether a default has …

**Ratio:** Under Section 9 of the IBC, the Adjudicating Authority must ascertain if an operational

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**Reasoning:** The NCLT found that the Operational Creditor provided sufficient documentary evidence,

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**Interpretation:** A dispute must be 'pre-existing' (i.e., existing prior to the demand notice)

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**Application:** The NCLT applied the principles from Mobilox Innovations, concluding that the

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## Parties

- **Judges:** Shri. JYOTI KUMAR…; SHRI. RAVICHANDRAN…
- **Appellants:** Bhanu Cerglaze…
- **Respondents:** Regma Ceramics…
- **Other parties:** P. Madhusudan…; Naga Bhushan…
- **Advocates:** Aswin Sam…; R. N. Ama…; +3 more

## Timeline

- **2000-10-17 — Incorporation of…**: Regma Ceramics Private…
- **2017-2021 — Supply of…**: Corporate Debtor placed purchase orders upon Operational Creditor for supply of ceramic…

## 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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