# In the matter of Ajay Protech Private Limited Cp (IB) 108-NCLT-AHM-2021

> NCLT judgment dated 2022-06-01. Citation: TCN-2022-NCLT-02491. The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by…

- **Court:** NCLT
- **Order date:** 1 Jun 2022
- **Citation:** TCN-2022-NCLT-02491
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ajay-protech-private-limited-cp-ib-108-nclt-ahm-2021-e3f2ae10

## Summary

### Background

The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Suresh Kumar Khandelwal, the sole proprietor of G.S. Alloys & Steels, against Ajay Protech Private Limited, the corporate debtor. The applicant sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor based on unpaid dues for goods supplied. The applicant claimed that the corporate debtor had defaulted on payments for goods supplied between 2016 and 2020. The applicant issued a demand notice, but the corporate debtor neither paid the dues nor raised any dispute.

## Facts

Suresh Kumar Khandelwal, the sole proprietor of G.S. Alloys & Steels, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Ajay Protech Private Limited. The applicant is an authorized dealer of steel under Steel Authority of India Limited. The applicant supplied goods worth Rs. 9,42,50,267/- to the corporate debtor between 17.05.2017 and 09.05.2018, against an advance payment of Rs. 8,00,000/- received on 28.10.2016. The corporate debtor made a total payment of Rs. 8,48,07,675/- during the period from 28.10.2016 to 09.05.2018, leaving an amount of Rs. 94,42,592/- due. Additionally, goods worth Rs. 2,54,49,347/- were sold and supplied to the corporate debtor between

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of …

**Ratio:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a corporate

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**Reasoning:** The applicant submitted sufficient documents, including invoices, ledger accounts, and

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**Interpretation:** Section 9 of the IBC provides the framework for an operational creditor to

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**Application:** The applicant's application was found to be complete with all necessary

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## Parties

- **Judges:** DEEPTI M…; Ajai Das Me…
- **Appellants:** Suresh Kumar…
- **Respondents:** Ajay Protech…

## Timeline

- **2016-10-28 — Advance Payment…**: Applicant received an advance payment of Rs.…
- **2017-05-17 — Supply of Goods…**: Applicant started supplying…

## 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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