# In the matter of SSAB ENERGY & MINERALS LIMITED

> NCLT judgment dated 2026-03-10. Citation: TCN-2026-NCLT-00203. Patnaik Steel International Limited filed an application under Section 9 of the Insolvency &…

- **Court:** NCLT
- **Order date:** 10 Mar 2026
- **Citation:** TCN-2026-NCLT-00203
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-cuttack/ssab-energy-minerals-limited-06504ee3

## Summary

### Background

Patnaik Steel International Limited filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against SSAB Energy and Minerals Limited seeking initiation of Corporate Insolvency Resolution Process (CIRP) for a default of Rs. 1,31,90,803/-.

## Facts

Patnaik Steel International Limited (PSIL) is the Operational Creditor (OC) engaged in the business of trading Iron Ore.

SSAB Energy and Minerals Limited (SEML) is the Corporate Debtor (CD) engaged in the business of manufacturing refined petroleum products.

Pursuant to a purchase order dated 31.12.2021, PSIL supplied 7,700 MT of Iron Ore Fines to SEML.

The total invoice amount was Rs. 2,86,90,803/-, out of which the CD made partial payments totalling Rs. 1,55,00,000/-.

The outstanding balance of Rs. 1,31,90,803/- has been due and outstanding since 13.05.2022.

The OC issued a statutory demand notice in Form-3 dated 03.02.2025.

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## Issues and analysis

### Issue 1: Whether there exists a 'pre-existing dispute' between the parties prior to the issuance of the …

**Ratio:** A 'dispute' under Section 5(6) of the Code must be a genuine and substantial dispute, and

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**Reasoning:** The conduct of the CD in issuing the Purchase Order, accepting the invoices, and making

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**Interpretation:** Reliance on an internal MOU with a third party, to which the Applicant was not

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**Application:** The Adjudicating Authority found that there was no pre-existing dispute in the

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## Parties

- **Judges:** Deep Chandr…; Banwari Lal…
- **Appellants:** Patnaik Steel…
- **Respondents:** SSAB Energy and…
- **Other parties:** Swadesh Pritam…; Sitesh Kumar…; +1 more
- **Advocates:** Saswat Kumar…; Sushree P…; +6 more

## Timeline

- **31.12.2021 — Purchase Ord…**: Date of the purchase order issued by the CD to…
- **17.01.2022 — Invoice…**: One of the invoice dates for…

## 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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