# In the matter of M.K. Printech Private Limited (IB)-550(ND)2020

> NCLT judgment dated 2022-09-20. Citation: TCN-2022-NCLT-00992. Mr. Dalip Narinder Gupta, the operational creditor, filed a petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 20 Sept 2022
- **Citation:** TCN-2022-NCLT-00992
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mk-printech-private-limited-ib-550nd2020-b1280866

## Summary

### Background

Mr. Dalip Narinder Gupta, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. M.K. Printech Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for printing inks supplied between November 2017 and June 2018, totaling Rs. 77,21,330/-. The corporate debtor made a partial payment of Rs. 2,00,000/- on 16.04.2019, but a significant portion was allocated to older dues. The operational creditor issued a demand notice on 16.12.2019 after the corporate debtor failed to make further payments.

## Facts

Mr. Dalip Narinder Gupta, operating as Gem International, supplied printing inks to M/s. M.K. Printech Private Limited between November 2017 and June 2018, totaling Rs.77,21,330/- based on 59 tax invoices. M.K. Printech made an 'on account' payment of Rs.2,00,000/- on 2019-04-16, with Rs.1,61,734/- allocated to older dues. Rs.38,266/- was applied to invoice GI1917 dated 2017-11-04. No payments were made after 2019-04-16, leaving a balance of Rs.76,83,064/-. Gem International claimed an additional Rs.25,39,575/- in interest at 18% p.a., bringing the total unpaid amount to Rs.1,02,22,639/-. Gem International maintained separate ledger statements for sales to M.K. Printech's Haryana and Delhi branches. M.K. Printech claimed a pre-existing dispute, alleging substandard

…

## Issues and analysis

### Issue 1: Whether the Operational Creditor has established a default on the part of the Corporate Debtor in …

**Ratio:** Section 9(5) of the IBC, 2016, requires the Adjudicating Authority to admit the

…

**Reasoning:** The Adjudicating Authority found that the Operational Creditor had supplied goods to the

…

**Interpretation:** The IBC defines 'operational debt' as a claim in respect of the provision of

…

**Application:** The Adjudicating Authority applied the provisions of Section 9(5) of the IBC,

…

## Parties

- **Judges:** Sh. Dharminder…; SH. L. N.…
- **Appellants:** Dalip Narinder…
- **Respondents:** M/s. M. K.…

## Timeline

- **2017-11-01 — Supply of Prin…**: The Applicant supplied Printing Inks to the…
- **2018-06-01 — Supply of Prin…**: The Applicant supplied Printing Inks to the…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mk-printech-private-limited-ib-550nd2020-b1280866