# In the matter of Kamachi Steels Private Limited

> NCLT judgment dated 2025-10-15. Citation: TCN-2025-NCLT-01555. Greta Steels Pvt Ltd filed a petition under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 15 Oct 2025
- **Citation:** TCN-2025-NCLT-01555
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/kamachi-steels-private-limited-7468a8fd

## Summary

### Background

Greta Steels Pvt Ltd filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, r/w Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against Kamachi Steels Pvt Ltd for initiating Corporate Insolvency Resolution Process (CIRP).

## Facts

Greta Steels Private Limited, the Operational Creditor, filed a petition under Section 9 of the IBC against Kamachi Steels Private Limited, the Corporate Debtor.

The Operational Creditor claimed a debt of Rs. 40,77,48,633/-, including principal and interest, with the date of default being 30.06.2019.

The Corporate Debtor acknowledged the debt in a reply letter dated 16.12.2024 and through confirmation of balances on various dates.

The Corporate Debtor's account became NPA on 29.02.2020 due to non-service to the bank as a result of a slowdown in business.

The Operational Creditor and Corporate Debtor had business dealings since November 2013, involving the sale and purchase of materials.

The last supply of goods was made by the Corporate Debtor on 12.06.2019.

…

## Issues and analysis

### Issue 1: Whether the petition is …

**Ratio:** Section 18 of the

…

**Reasoning:** The Corporate Debtor acknowledged its liability in confirmation of statement/report for

…

**Interpretation:** Acknowledgment of debt within the

…

**Application:** The Adjudicating Authority held that the petition was within limitation due to

…

## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** Greta Steels Pvt…; Greta Steels…
- **Respondents:** Kamachi Steels…
- **Other parties:** Sardarmal K…; Pradeep…; +5 more
- **Advocates:** M.R. Dhalapathy…; S. Thyaga…; +4 more

## Timeline

- **2013-11-01 — Business De…**: Operational Creditor and the Corporate Debtor…
- **2019-06-12 — Last Supply o…**: The last supply of goods was made by…

## 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-chennai/kamachi-steels-private-limited-7468a8fd