# In the matter of Map Oil LLP C.P. (IB)-241(AHM)-2021

> NCLT judgment dated 2022-04-26. Citation: TCN-2022-NCLT-03064. The application was filed by the Operational Creditor under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 26 Apr 2022
- **Citation:** TCN-2022-NCLT-03064
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/map-oil-llp-cp-ib-241ahm-2021-caec6b79

## Summary

### Background

The application was filed by the Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, for the initiation of the Corporate Insolvency Resolution Process against the Corporate Debtor due to a default in payment for goods supplied.

## Facts

Kadam Kirtibhai Patel, proprietor of Pearl Impex (Operational Creditor), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IB Code) to initiate the Corporate Insolvency Resolution Process (CIRP) against Map Oil LLP (Corporate Debtor). The default amount claimed was Rs. 1,49,20,054/-. The Corporate Debtor's registered office is in Ahmedabad, establishing the Adjudicating Authority's jurisdiction. The Corporate Debtor placed an order for cotton-seed oil, which the Operational Creditor supplied. Four invoices were raised for the goods, totaling Rs. 1,49,20,054/-, with payment due within 10 days from the invoice date, i.e., April 15, 2021. Despite numerous requests and reminders, the Corporate Debtor failed to pay the outstanding amount. On

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## Issues and analysis

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

**Ratio:** An application under Section 9 of the IB Code is admissible if it is complete, meets the

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**Reasoning:** The application was found to be complete as per the provisions of Section 9(5) of the IB

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**Interpretation:** The court interpreted **Section 9(5)** and **Section 4** of the IB Code to mean

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**Application:** The application was deemed complete because the Corporate Debtor admitted the

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## Parties

- **Judges:** DEEPTI M…; Ajai Das Me…
- **Appellants:** Kadam Kirtibhai…; Proprietor of…
- **Respondents:** Map Oil…
- **Advocates:** For the Applicant:…; For the Respondent…

## Timeline

- **April 15, 2021 — Payment Du…**: Outstanding amount of Rs. 1,49,20,054/- was to be paid by the Corporate Debtor to the…
- **April 25, 2021 — Date of D…**: The date of default as…

## 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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