# In the matter of Nyles Sales & Infraprojects Private Limited CP (IB) 4668-MB-C-I-2018

> NCLT judgment dated 2022-12-02. Citation: TCN-2022-NCLT-00258. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 2 Dec 2022
- **Citation:** TCN-2022-NCLT-00258
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/nyles-sales-infraprojects-private-limited-cp-ib-4668-mb-c-i-2018-cb90f4ff

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Gupta Coal India Private Limited (Operational Creditor) against Nyles Sales & Infraprojects Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid debt. The Operational Creditor claimed a total debt of Rs. 30,98,28,851/- with the date of default being 04.02.2016. The Operational Creditor had supplied coal to the Corporate Debtor and raised invoices, which remained unpaid despite the Corporate Debtor utilizing the goods without demur or protest. The Corporate Debtor failed to respond to a demand notice issued by the Operational Creditor.

## Facts

Gupta Coal India Private Limited (Operational Creditor) filed a Company Petition against Nyles Sales & Infraprojects Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a debt of Rs. 30,98,28,851/-, with the date of default being 04.02.2016. The Corporate Debtor is incorporated under the Companies Act, 2013. The Operational Creditor had supplied Imported & Domestic Coal to the Corporate Debtor and raised several invoices aggregating to Rs. 20,25,28,991/-. The invoices specified that payment was due within 30 days, with a late charge of 24% per annum on unpaid amounts. The Corporate Debtor utilized the goods without

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## Issues and analysis

### Issue 1: Whether the application made by the Operational Creditor is complete in all respects as required by …

**Ratio:** The Insolvency and Bankruptcy Code, 2016, and related rules require an application for

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**Reasoning:** The court observed that the application by the Operational Creditor was complete in all

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**Interpretation:** The completeness of the application is a prerequisite for the admission of the

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**Application:** The court found that the Operational Creditor had provided sufficient

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## Parties

- **Judges:** P.N. Des…; Shyam Babu…
- **Appellants:** Gupta Coal India…
- **Respondents:** Nyles Sales &…

## Timeline

- **2016-02-04 — Date of D…**: The date on which the Corporate Debtor defaulted on its payment obligations to the…
- **2017-03-09 — Admission of Company…**: Company Petition No. 31/IBC/MB/2017 was admitted by the NCLT Mumbai, and Mr. Devandra…

## 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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