# In the matter of Anupam Port Cranes Coropration Limited

> NCLT judgment dated 2024-04-09. Citation: TCN-2024-NCLT-01775. The case involves an application filed by Ispat Traders (India) Private Limited, the…

- **Court:** NCLT
- **Order date:** 9 Apr 2024
- **Citation:** TCN-2024-NCLT-01775
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/anupam-port-cranes-coropration-limited-9736a809

## Summary

### Background

The case involves an application filed by Ispat Traders (India) Private Limited, the Operational Creditor, against Anupam Port Cranes Corporation Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The application was filed due to the Corporate Debtor's alleged default in payment of an operational debt amounting to Rs. 1,15,05,718/-. The first date of default was stated as 21.06.2023, and the last as 11.07.2023. The Operational Creditor sought the admission of the application, initiation of CIRP, appointment of an Interim Resolution Professional (IRP), and declaration of a moratorium.

## Facts

Ispat Traders (India) Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Anupam Port Cranes Corporation Limited (Corporate Debtor) for defaulting on a payment of Rs. 1,15,05,718/-. The first default date was 21.06.2023, and the last was 11.07.2023. The Corporate Debtor placed a purchase order on 16.06.2023 for MS Plates, Bars, and other specific equipment. The Operational Creditor supplied goods/materials to the Corporate Debtor via invoices from 20.06.2023 to 10.07.2023, totaling Rs. 1,23,13,230/-. The Corporate Debtor rejected materials worth Rs. 8,07,512/- but accepted and consumed materials worth Rs. 1,15,05,718/-. Payment was due within one day of the invoice date, but the Corporate

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9 of the IBC outlines the requirements for an operational creditor to initiate

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**Reasoning:** The court reasoned that the Operational Creditor had submitted the necessary documents,

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**Interpretation:** Section 9 is interpreted to provide a mechanism for operational creditors to

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**Application:** The court applied the provisions of Section 9 to the facts of the case and

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** Ispat Traders…
- **Respondents:** Anupam Port…

## Timeline

- **2023-06-16 — Purchase…**: Corporate Debtor placed a purchase…
- **2023-06-20 — Invoices…**: Operational Creditor issued invoices to the Corporate Debtor for supplied goods/materials…

## 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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