# In the matter of DSK Milkotronics Private Limited

> NCLT judgment dated 2024-02-14. Citation: TCN-2024-NCLT-02600. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 14 Feb 2024
- **Citation:** TCN-2024-NCLT-02600
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dsk-milkotronics-private-limited-e2e8db57

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by IC Point, an operational creditor, against DSK Milkotronics Private Limited, the corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditor supplied industrial electronics components to the corporate debtor between September 2014 and August 2016. The corporate debtor failed to pay the outstanding amount for these supplies.

## Facts

IC Point, an operational creditor, filed a petition against DSK Milkotronics Private Limited, a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. DSK Milkotronics approached IC Point in September 2014 for the supply of industrial electronics components. IC Point supplied goods and raised invoices between September 2014 and August 2016. The total outstanding debt was Rs. 18,50,758/-, exclusive of interest. The last payment was made on 25.08.2016. IC Point sent demand notices, but they were returned undelivered. The Tribunal initially dismissed the petition but restored it later. The invoices raised were from 15.09.2014 to 25.08.2016. The debt due and in default even in relation to invoices falling due in April, 2016

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## Issues and analysis

### Issue 1: Whether the petition filed by the operational creditor meets the requirements for initiating the …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, outlines the requirements for an

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**Reasoning:** The Tribunal considered the invoices, ledger account statements, and email correspondence

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**Interpretation:** Section 9 requires the operational creditor to provide evidence of the debt and

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**Application:** The Tribunal found that the operational creditor had provided sufficient

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## Parties

- **Judges:** SH. Justice…; Prabhat…
- **Appellants:** IC Point through…
- **Respondents:** DSK Milkotronics…

## Timeline

- **2014-09-01 — Corporate Debtor…**: DSK Milkotronics Private Limited approached IC Point for the supply of industrial…
- **2014-09-01 — Supply of Goods and…**: IC Point supplied goods and raised invoices…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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