# In the matter of Brilliant Metals Private Limited IB-3151(ND)-2019

> NCLT judgment dated 2022-06-20. Citation: TCN-2022-NCLT-02178. The operational creditor filed an application under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 20 Jun 2022
- **Citation:** TCN-2022-NCLT-02178
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/brilliant-metals-private-limited-ib-3151nd-2019-7de89697

## Summary

### Background

The operational creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process against the corporate debtor for alleged unpaid operational debt.

## Facts

M/s. Oyster Steel and Iron Private Limited, the operational creditor, filed an application under section 9 of the Insolvency and Bankruptcy Code, 2016, read with rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The application sought to initiate the Corporate Insolvency Resolution Process against M/s Brilliant Metals Private Limited, the corporate debtor, for an alleged unpaid operational debt. The operational creditor, engaged in the production of metals, chemicals, and related products, claimed to have supplied copper wire rods worth Rs. 10,58,62,877/- on credit to the corporate debtor between May 9, 2015, and June 30, 2015. The understanding was that payments would be made within 120 days of the earliest sales, with an 18%

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor under Section 9 of the IBC, 2016, is …

**Ratio:** For an application under Section 9 of the IBC, 2016, to be admitted, there must be a

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**Reasoning:** The NCLT found that the operational creditor failed to file a copy of the bank statement

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**Interpretation:** The NCLT interpreted the requirements of Section 9 of the IBC, 2016, to mean

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**Application:** In this case, the operational creditor's reliance on invoices and tax forms

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## Parties

- **Judges:** SHRI. DHARMINDER…; SUMITA PURK…; +2 more
- **Appellants:** M/s. Oyster Steel…; M/s. Oyster…; +1 more
- **Respondents:** M/s Brilliant…

## Timeline

- **May 9, 2015 — Start of suppl…**: Operational creditor began supplying copper…
- **June 30, 2015 — End of supply…**: Operational creditor concluded supplying copper wire rods to the corporate debtor on…

## 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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