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

> NCLT judgment dated 2023-01-13. Citation: TCN-2023-NCLT-05061. Mansfield Cable Company Limited, acting through its Interim Resolution Professional, initiated…

- **Court:** NCLT
- **Order date:** 13 Jan 2023
- **Citation:** TCN-2023-NCLT-05061
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mansfield-power-infrastructure-private-limited-ib-79nd2021-ed9ec858

## Summary

### Background

Mansfield Cable Company Limited, acting through its Interim Resolution Professional, initiated a Corporate Insolvency Resolution Process (CIRP) against Mansfield Cables Company & Infrastructure Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that the respondent defaulted on payments for supplied steel cables. Previously, Mansfield Cable Company Limited had faced CIRP, which was later set aside by NCLAT. Subsequently, another CIRP was initiated against it. The applicant claimed an outstanding amount of Rs. 85,18,660/- with 18% interest per annum, based on five invoices dated 05.11.2016. The respondent also issued a confirmation of accounts on 01.04.2017, acknowledging the balance. A demand notice was issued on

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## Facts

Mansfield Cable Company Limited (the applicant), through its Interim Resolution Professional, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Mansfield Cables Company & Infrastructure Private Limited (the respondent), seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claimed that the respondent defaulted on payments for steel cables supplied. The applicant had previously undergone CIRP, which was later overturned by NCLAT. Subsequently, another CIRP was initiated against the applicant. The applicant asserted that it supplied products to the respondent and raised five invoices dated 05.11.2016, totaling Rs. 85,18,660/-, with an 18% per annum interest. The respondent issued a confirmation of

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC, 2016 is complete and fulfills all the …

**Ratio:** Section 9(5) of the IBC, 2016 allows for the admission of a petition if it is complete

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**Reasoning:** The court examined the application and found that it met the necessary legal requirements

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**Interpretation:** Section 9 of the IBC outlines the procedure for an operational creditor to

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**Application:** The court applied Section 9(5) of the IBC to the facts, determining that the

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## Parties

- **Judges:** Sh. Ashok Kumar…; L. N. G…
- **Appellants:** Mansfield Cable…
- **Respondents:** Mansfield Cables…

## Timeline

- **2018-05-15 — CIRP Admi…**: Applicant Company was admitted into…
- **2019-03-08 — NCLAT Or…**: Order dated 15.05.2018 was set…

## 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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