# In the matter of Gromor Overseas Limited IB-447-(ND)-2022

> NCLT judgment dated 2023-02-28. Citation: TCN-2023-NCLT-04424. Napin Impex Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 28 Feb 2023
- **Citation:** TCN-2023-NCLT-04424
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gromor-overseas-limited-ib-447-nd-2022-1d36550d

## Summary

### Background

Napin Impex Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Gromor Overseas Limited for defaulting on a debt of Rs. 1,59,30,000. The applicant, an operational creditor, claimed that the corporate debtor failed to make full payment for petrochemicals and polymer raw materials supplied between 06.03.2021 and 26.07.2021, despite assurances of timely payment within 180 days of invoice raising.

## Facts

Napin Impex Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Gromor Overseas Limited (Corporate Debtor) for a default of Rs. 1,59,30,000. The Operational Creditor supplied petrochemicals and polymer raw materials to the Corporate Debtor between 06.03.2021 and 26.07.2021, based on the Corporate Debtor's assurance of timely payments within 180 days of invoice raising. 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 as 01.12.2021 to circumvent Section 10A of the IBC, 2016, and claimed that no goods were supplied. The Operational

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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, states that after the expiry of ten days from the date of

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**Reasoning:** The Tribunal noted the absence of any clarity regarding the due date of the invoices. It

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**Interpretation:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a

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**Application:** The Tribunal applied Section 9(1) to the facts of the case, noting that the

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## Parties

- **Judges:** BACHU VENKAT…; RAHUL BHA…
- **Appellants:** M/S. ΝΑΡΙN IMPEX…
- **Respondents:** M/S. GROMOR…

## Timeline

- **2021-03-06 — Invoices…**: Operational Creditor issued…
- **2021-03-06 — Supply Perio…**: Start of the period during which the Operational Creditor supplied petrochemicals and…

## 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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