# In the matter of Anupam Industries Limited

> NCLT judgment dated 2023-12-22. Citation: TCN-2023-NCLT-00021. The case originates from an application filed by the Operational Creditor, M/s. Windlass…

- **Court:** NCLT
- **Order date:** 22 Dec 2023
- **Citation:** TCN-2023-NCLT-00021
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/anupam-industries-limited-6dc573bf

## Summary

### Background

The case originates from an application filed by the Operational Creditor, M/s. Windlass Engineers & Services Pvt. Ltd., under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Anupam Industries Limited. The Operational Creditor claimed a default amount of Rs. 1,24,53,209, comprising a principal amount of Rs. 80,83,990.84 and interest of Rs. 43,69,218. The Corporate Debtor raised objections, alleging disputes over the quality of supplied materials and the maintainability of the petition due to multiple purchase orders. The Adjudicating Authority considered the submissions and documents from both parties.

## Facts

M/s. Windlass Engineers & Services Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Anupam Industries Limited (Corporate Debtor) for a default of Rs. 1,24,53,209. This amount includes a principal of Rs. 80,83,990.84 and interest of Rs. 43,69,218 calculated at 24% p.a. The debt arose from the supply of equipment, goods, and materials based on purchase orders placed by the Corporate Debtor. The Operational Creditor supplied goods and services, raising invoices amounting to Rs. 1,19,79,177.12, which were allegedly accepted without demur. The Corporate Debtor made payments aggregating to Rs. 38,95,186.28 between 31.03.2018 and 19.06.2018, which were adjusted towards the outstanding dues. The

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, is …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, allows an operational creditor to

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**Reasoning:** The Adjudicating Authority considered the submissions and documents presented by both

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**Interpretation:** Section 9 provides the framework for operational creditors to initiate CIRP,

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**Application:** The court found that the Operational Creditor had met all the necessary

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** M/s. Windlass…
- **Respondents:** M/s. Anupam…

## Timeline

- **2021-01-29 — Application…**: The Operational Creditor, M/s. Windlass Engineers & Services Pvt. Ltd., filed the…
- **2020-06-10 — Legal Notice…**: The Operational Creditor issued a…

## 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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