# In the matter of ABCN Manufacturing Private Limited CP (IB) No.207-MB-IV-2020

> NCLT judgment dated 2023-03-17. Citation: TCN-2023-NCLT-04159. The case involves a petition filed by Novatic Coatings Private Limited, the Operational…

- **Court:** NCLT
- **Order date:** 17 Mar 2023
- **Citation:** TCN-2023-NCLT-04159
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/abcn-manufacturing-private-limited-cp-ib-no207-mb-iv-2020-1b0df8f7

## Summary

### Background

The case involves a petition filed by Novatic Coatings Private Limited, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against ABCN Manufacturing Limited, the Corporate Debtor. The petition was filed on 17.01.2020. The Operational Creditor claimed a sum of Rs. 19,52,172.88/- (Principal of Rs. 17,76,252.88/- and Interest @ 18% from 28.10.2019 Rs.1,75,919.11/-) as due from the Corporate Debtor against 21 tax invoices raised from 04.01.2019 till 19.03.2019. The Corporate Debtor contended that payments were made at regular intervals and that the Operational Creditor concealed material facts.

## Facts

Novatic Coatings Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against ABCN Manufacturing Limited (Corporate Debtor). The petition was filed on 17.01.2020. The Operational Creditor claimed Rs. 19,52,172.88/- (principal of Rs. 17,76,252.88/- and interest of Rs. 1,75,919.11/-) was due against 21 tax invoices raised between 04.01.2019 and 19.03.2019 for supply of paints. The Operational Creditor issued a demand notice u/s 8 of the Code dated 04.11.2019, which was received by the Corporate Debtor on 16.11.2019. The Corporate Debtor stated that payments were made at regular intervals from 2017 to 2019 and that they received a notice under Form

…

## Issues and analysis

### Issue 1: Whether the application filed by the Operational …

**Ratio:** The application must be filed within the

…

**Reasoning:** The court observed that the application was filed within the limitation period, thus the

…

**Interpretation:** The limitation period is a crucial factor in determining the maintainability of

…

**Application:** In this case, the court found that the application was filed within the

…

## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Novatic Coatings…
- **Respondents:** ABCN Manufacturing…

## Timeline

- **2020-01-17 — Petition…**: Novatic Coatings Private Limited filed a petition under Section 9 of the IBC seeking…
- **2018-11-14 — Work Orders E…**: The Operational Creditor executed various work orders from 14.11.2018 to 05.04.2019 for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

---

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-division-bench-court-i-chenn/abcn-manufacturing-private-limited-cp-ib-no207-mb-iv-2020-1b0df8f7