# In the matter of Gromor Overseas Limited IB-446-(ND)-2022

> NCLT judgment dated 2023-02-28. Citation: TCN-2023-NCLT-04419. The case involves an application filed by M/s. Krishiv Poly Products LLP, the Operational…

- **Court:** NCLT
- **Order date:** 28 Feb 2023
- **Citation:** TCN-2023-NCLT-04419
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gromor-overseas-limited-ib-446-nd-2022-621a8608

## Summary

### Background

The case involves an application filed by M/s. Krishiv Poly Products LLP, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Gromor Overseas Limited, the Corporate Debtor, for an alleged default of Rs. 13,08,96,265/-. The Operational Creditor claimed to have supplied petrochemicals and polymer raw materials to the Corporate Debtor between 22.09.2020 and 18.12.2020, with payment due in 180 days. The Corporate Debtor made partial payments but failed to clear a substantial part of the outstanding invoices.

## Facts

M/s. Krishiv Poly Products LLP (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Gromor Overseas Limited (Corporate Debtor) for a default of Rs. 13,08,96,265/-. The Operational Creditor supplied petrochemicals and polymer raw materials to the Corporate Debtor between 22.09.2020 and 18.12.2020, with payment terms of 180 days. The Corporate Debtor made partial payments but failed to pay a substantial portion of the outstanding invoices. The Corporate Debtor argued that the Operational Creditor misrepresented the date of default to circumvent Section 10A of the IBC, 2016, and denied the supply of goods. The Operational Creditor filed affidavits stating that no notice of pre-existing

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## Issues and analysis

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

**Ratio:** Section 9(1) of the IBC, 2016, allows an operational creditor to file an application for

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**Reasoning:** The Tribunal noted that the invoices did not specify a payment schedule beyond the

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**Interpretation:** Section 9(1) of the IBC, 2016, is interpreted to mean that in the absence of a

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**Application:** Since the invoices did not specify a payment schedule, the Tribunal applied the

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## Parties

- **Judges:** BACHU VENKAT…; RAHUL BHA…
- **Appellants:** M/S. KRISHIV POLY…
- **Respondents:** M/S. GROMOR…
- **Advocates:** Avneesh Ar…; Mohit Cha…

## Timeline

- **2020-09-22 — Supply of Good…**: Operational Creditor starts supplying petrochemicals and polymer raw materials to…
- **2020-12-10 — First Invoi…**: First invoice date of the invoices…

## 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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