# In the matter of Mansfield Power & Infrastructure Private Limited (IB)-79(ND)2021

> NCLT judgment dated 2023-01-13. Citation: TCN-2023-NCLT-05053. Mansfield Cable Company Limited, through its Interim Resolution Professional, filed a petition…

- **Court:** NCLT
- **Order date:** 13 Jan 2023
- **Citation:** TCN-2023-NCLT-05053
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mansfield-power-infrastructure-private-limited-ib-79nd2021-179c0a5a

## Summary

### Background

Mansfield Cable Company Limited, through its Interim Resolution Professional, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against Mansfield Cables Company & Infrastructure Private Limited. The Applicant Company was previously admitted into CIRP by the NCLT in 2018, but the order was set aside by the NCLAT. Subsequently, CIRP was again initiated against the Applicant Company in 2022.

## Facts

Mansfield Cable Company Limited (the 'Applicant/Operational Creditor') filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC, 2016') to initiate Corporate Insolvency Resolution Process (CIRP) against Mansfield Cables Company & Infrastructure Private Limited (the 'Respondent'). The Applicant claimed that the Respondent defaulted on a payment of Rs. 1,28,75,079 as of 07.09.2019, with the initial default occurring on 01.04.2017, when the Respondent issued a confirmation of accounts. The Applicant had supplied steel cables to the Respondent and raised five invoices dated 05.11.2016, totaling Rs. 85,18,660/-, with an interest of 18% per annum. The Applicant also deposited VAT & Excise duty on the invoices. A demand notice dated

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## Issues and analysis

### Issue 1: Whether the petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 is complete …

**Ratio:** Section 9(5) of the IBC states that if the Adjudicating Authority is satisfied that the

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**Reasoning:** The court found that the present petition filed under Section 9 is complete and fulfills

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**Interpretation:** Section 9 of the IBC outlines the procedure for initiating CIRP by an

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**Application:** The court applied Section 9(5) of the IBC to the facts of the case and

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## Parties

- **Judges:** SH. ASHOK KUMAR…; SH. L. N.…
- **Appellants:** Mansfield Cable…
- **Respondents:** Mansfield Cables…

## Timeline

- **2010-05-13 — Incorporation of…**: Mansfield Cables Company &…
- **2016-11-05 — Invoices…**: Applicant raised five…

## 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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