# In the matter of MAA TARINI STEELS LLP

> NCLT judgment dated 2026-02-13. Citation: TCN-2026-NCLT-00128. M/s. Kashvi Power and Steel Pvt Ltd. filed a petition under Section 9 of the Insolvency &…

- **Court:** NCLT
- **Order date:** 13 Feb 2026
- **Citation:** TCN-2026-NCLT-00128
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-cuttack/maa-tarini-steels-llp-85ed251b

## Summary

### Background

M/s. Kashvi Power and Steel Pvt Ltd. filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against M/s. Maa Tarini Steel LLP, seeking initiation of Corporate Insolvency Resolution Process (CIRP) for a default of Rs. 26,40,16,000/-.

## Facts

Kashvi Power and Steel Pvt Ltd. filed a petition under Section 9 of the IBC against Maa Tarini Steel LLP.

The claim amount is Rs. 26,40,16,000/-, including principal and interest.

Kashvi Power and Steel Pvt Ltd. is the Operational Creditor, and Maa Tarini Steel LLP is the Corporate Debtor.

The Corporate Debtor was to supply 75,000 MT of iron ore fines to the Applicant.

The Applicant paid an advance of Rs. 22,76,00,000/- to the Corporate Debtor.

The Corporate Debtor failed to supply the iron ore fines.

The Operational Creditor issued a demand notice under Form-3 on 24.07.2024.

The Corporate Debtor filed a civil suit for specific performance against the Operational Creditor.

The Corporate Debtor admitted receipt of Rs. 22,76,00,000/-.

…

## Issues and analysis

### Issue 1: Whether there was a pre-existing dispute between the …

**Ratio:** The NCLT found that there was no pre-existing dispute as the Corporate Debtor did not

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**Reasoning:** The Corporate Debtor's claim of a pre-existing dispute was based on the Operational

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**Interpretation:** Any legal proceeding initiated subsequent to filing of the present application

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**Application:** The NCLT rejected the Corporate Debtor's argument of a pre-existing dispute and

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## Parties

- **Judges:** Deep Chandr…; Banwari Lal…
- **Appellants:** KASHVI POWER AND…
- **Respondents:** MAA TARINI STEEL…
- **Other parties:** Suresh Chandra…
- **Advocates:** S.S.…; Somjeet…; +3 more

## Timeline

- **2023-03-23 — Purchase…**: Operational Creditor placed a purchase order with the Corporate Debtor for the supply of…
- **2023-03-30 — Purchase…**: Another purchase order was placed…

## 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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