# In the matter of Bombay Infrastructure India Limited

> NCLT judgment dated 2023-08-02. Citation: TCN-2023-NCLT-02215. Millenium Enterprise, the Operational Creditor/Applicant, filed an application under Section 9…

- **Court:** NCLT
- **Order date:** 2 Aug 2023
- **Citation:** TCN-2023-NCLT-02215
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bombay-infrastructure-india-limited-7240a4e9

## Summary

### Background

Millenium Enterprise, the Operational Creditor/Applicant, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Bombay Infrastructure India Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a total amount of Rs. 4,25,87,736/- pursuant to 5 invoices, consisting of a principal amount of Rs. 3,07,15,314/- along with interest @24% amounting to Rs.1,18,72,422/-. The Corporate Debtor was looking to buy steel and iron products for its running project of redevelopment and accordingly, enquired to the Operational Creditor and asked to provide a quote in respect of the required products.

## Facts

Millenium Enterprise (Operational Creditor) filed an application against Bombay Infrastructure India Limited (Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate CIRP. The Operational Creditor claimed Rs. 4,25,87,736/- based on 5 unpaid invoices, comprising Rs. 3,07,15,314/- principal and Rs. 1,18,72,422/- interest. The Corporate Debtor, involved in a redevelopment project, had sought steel and iron product quotes from the Operational Creditor in June 2021. The Operational Creditor issued a proforma invoice quotation on 03.06.2021. The Corporate Debtor approved the proforma invoice and issued Purchase Order No. BIIL/0012/21-22 on 11.06.2021. The Operational Creditor delivered materials against the purchase order in July

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## Issues and analysis

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

**Ratio:** The application under Section 9 of the Insolvency & Bankruptcy Code, 2016 is

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**Reasoning:** The court found that the operational debt exceeded the threshold limit, there was a

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**Interpretation:** Section 9 of the Insolvency & Bankruptcy Code, 2016 allows an operational

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**Application:** The court applied the ratio to the facts of the case and found that the

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Millenium…
- **Respondents:** Bombay Infrastruct…

## Timeline

- **2021-06-01 — Corporate Debtor…**: Corporate Debtor enquired to the Operational Creditor for steel and iron product for its…
- **2021-06-03 — Proforma I…**: Operational Creditor issued…

## 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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