# In the matter of NBCC (India) Limited I.A.-2370-2022 in Company Petition No.(IB)-18(ND)-2020

> NCLT judgment dated 2023-03-29. Citation: TCN-2023-NCLT-03992. Satya Narayan Sharma, proprietor of M/s. India Wood Craft, filed an application under Section 9…

- **Court:** NCLT
- **Order date:** 29 Mar 2023
- **Citation:** TCN-2023-NCLT-03992
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/nbcc-india-limited-ia-2370-2022-in-company-petition-noib-18nd-2020-1b80bcae

## Summary

### Background

Satya Narayan Sharma, proprietor of M/s. India Wood Craft, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. NBCC (India) Limited, alleging a default in payment of Rs. 99,37,989/-. This amount includes a principal of Rs. 69,85,645/- and interest of Rs. 29,52,344/- for delayed payments from 30.06.2017 to 04.11.2019. The applicant, engaged in interior decoration, civil works, and furnishing, was awarded a contract by NBCC for interior works for Software Technology Parks of India (STPI).

## Facts

M/s. India Wood Craft, represented by proprietor Satya Narayan Sharma, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. NBCC (India) Limited, claiming a default of Rs. 99,37,989/-. This amount includes Rs. 69,85,645/- as principal and Rs. 29,52,344/- as interest for delayed payments. The debt arose from a contract awarded to India Wood Craft by NBCC for interior works at Software Technology Parks of India (STPI) in Gandhinagar. The Letter of Acceptance was dated 12.08.2016. India Wood Craft raised seven running account bills, and NBCC made partial payments. A final bill was prepared on 30.06.2017. The applicant sent reminders for payment between 2017 and 2019, followed by a demand notice on 04.11.2019, which was received by

…

## Issues and analysis

### Issue 1: Whether the CIRP can be initiated against M/s. NBCC (India) Limited ('Corporate Debtor'), a …

**Ratio:** A government company falls under the definition of 'corporate person' as per Section 3(7)

…

**Reasoning:** The court relied on the Hon'ble Supreme Court's decision in Hindustan Construction

…

**Interpretation:** Section 3(7) of the Insolvency and Bankruptcy Code, 2016, defines 'corporate

…

**Application:** NBCC (India) Limited, being a company incorporated under the Companies Act,

…

## Parties

- **Judges:** SH. P. MOH…; BINOD KUMAR…
- **Appellants:** Satya Narayan…
- **Respondents:** NBCC (India)…

## Timeline

- **2016-08-12 — Letter of Acc…**: Corporate Debtor awarded work to the Applicant…
- **2017-06-30 — Final Bi…**: Corporate Debtor prepared the 8th…

## 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/nbcc-india-limited-ia-2370-2022-in-company-petition-noib-18nd-2020-1b80bcae