# In the matter of Lahari Infra Projects (India) Private Limited CP(IB) No. 10-09-HDB-2020

> NCLT judgment dated 2023-05-25. Citation: TCN-2023-NCLT-03191. The case involves an application filed by S.V.R. Nirman Products Inc (Operational Creditor)…

- **Court:** NCLT
- **Order date:** 25 May 2023
- **Citation:** TCN-2023-NCLT-03191
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/lahari-infra-projects-india-private-limited-cpib-no-10-09-hdb-2020-986d2f86

## Summary

### Background

The case involves an application filed by S.V.R. Nirman Products Inc (Operational Creditor) against Lahari Infra Projects India (P) Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 15,89,255. The default comprises Rs. 11,55,822 towards principal and Rs. 4,33,433 towards interest, arising from unpaid invoices for the manufacturing of cement blocks. The Operational Creditor claims that the Corporate Debtor failed to pay the invoices despite completing the work as per the agreed specifications. The Corporate Debtor denies the liability, claiming that the invoices were not certified by their Engineer In-charge and that they had already paid Rs.

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## Facts

S.V.R. Nirman Products Inc (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Lahari Infra Projects India (P) Ltd (Corporate Debtor) for a default of Rs. 15,89,255. This amount includes Rs. 11,55,822 towards the principal and Rs. 4,33,433 towards interest from 01.11.2017 to 13.11.2019. The debt arose from invoices for the manufacturing of cement blocks, for which the Operational Creditor issued a quotation on 09.02.2017, and the Corporate Debtor placed a work order on the same date. The work was carried out at YSR Colony, Khammam. The payment terms stipulated weekly bill submissions with payments to be made within 15 days. The Operational Creditor issued a demand notice on 13.11.2019, which the Corporate

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## Issues and analysis

### Issue 1: Whether an Operational Debt of a sum over rupees one lakh is due and payable by the Respondent to …

**Ratio:** The legal principle is that for an application under Section 9 of the IBC to be admitted,

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**Reasoning:** The court reasoned that the work order and the submission of invoices were not in

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**Interpretation:** This issue involves interpreting Section 9 of the IBC, which outlines the

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**Application:** The court applied the principle to the facts by noting that the Corporate

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## Parties

- **Judges:** DR.VENKATA…; Satya Ranjan…
- **Appellants:** S.V.R Nirman…
- **Respondents:** Lahari Infra…
- **Advocates:** D. Gopalak…; V.S.R…; +1 more

## Timeline

- **2017-02-09 — Quotation and W…**: Operational Creditor issued quotation and Corporate Debtor placed work order for…
- **2017-11-01 — Default Perio…**: Start date for calculating…

## 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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