# In the matter of Radius & Deserve Builders LLP

> NCLT judgment dated 2023-09-27. Citation: TCN-2023-NCLT-01455. This case involves an application filed by Amit Infra-Logic (India) Private Limited, the…

- **Court:** NCLT
- **Order date:** 27 Sept 2023
- **Citation:** TCN-2023-NCLT-01455
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/radius-deserve-builders-llp-4f647600

## Summary

### Background

This case involves an application filed by Amit Infra-Logic (India) Private Limited, the Operational Creditor (OC), under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), to initiate Corporate Insolvency Resolution Process (CIRP) against Radius & Deserve Builders LLP, the Corporate Debtor (CD). The OC claimed that the CD owed them Rs. 8,29,19,331/- based on a tripartite agreement dated 13.07.2019. The OC is in the business of manufacturing and supplying Ready-Mix Concrete (RMC), while the CD is in the construction business. The debt arose from the supply of RMC and idling charges incurred on the RMC plant.

## Facts

Amit Infra-Logic (India) Private Limited (OC) filed an application under Section 9 of the IBC to initiate CIRP against Radius & Deserve Builders LLP (CD). The OC claimed a debt of Rs. 8,29,19,331/- arising from a tripartite agreement dated 13.07.2019. The debt comprised the supply of RMC and idling charges for the RMC plant. Capacite Infraprojects Limited awarded the CD a contract to construct 16 buildings under a Slum Redevelopment Authority (SRA) scheme. The CD issued a work order to the OC on 06.11.2015 for setting up an RMC plant. The CD allocated an area to the OC for setting up the RMC plant on 04.12.2019. The tripartite agreement stipulated that the CD would take over the obligation of settling the total receivables. The CD handed over ten post-dated cheques

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## Issues and analysis

### Issue 1: Whether the application under …

**Ratio:** Section 4 of the IBC stipulates that the operational debt must be more than Rs.

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**Reasoning:** The NCLT found that the operational debt exceeded Rs. 1,00,00,000/- and was due and

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**Interpretation:** Section 9 of the IBC allows an operational creditor to initiate CIRP if the

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**Application:** The OC's application met the requirements of Section 9 as the debt exceeded the

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## Parties

- **Judges:** K. R. SAJI…; SANJIV…
- **Appellants:** Amit Infra-Logic…
- **Respondents:** Radius & Deserve…

## Timeline

- **2015-11-06 — Work Order…**: Capacite Infraprojects Limited issued a Work Order to Amit Infra-Logic for setting up an…
- **2019-07-13 — Tripartite Ag…**: A tripartite agreement was executed among Amit Infra-Logic, Capacite Infraprojects…

## 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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