# In the matter of Ramos Ceramic Private Limited

> NCLT judgment dated 2024-02-14. Citation: TCN-2024-NCLT-02604. Sicer Inkera Private Limited, an operational creditor, filed a petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 14 Feb 2024
- **Citation:** TCN-2024-NCLT-02604
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ramos-ceramic-private-limited-8566d915

## Summary

### Background

Sicer Inkera Private Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Ramos Ceramic Private Limited, a corporate debtor, for defaulting on a payment of Rs. 1,60,48,191/-. The operational creditor supplied ceramic ink to the corporate debtor from May 18, 2020, to May 3, 2022. The corporate debtor is engaged in manufacturing and printing ceramic tiles. The operational creditor served a demand notice on January 9, 2023, which was returned undelivered. The corporate debtor confirmed the outstanding amount on March 4, 2022.

## Facts

Sicer Inkera Private Limited (Operational Creditor) supplied ceramic ink to Ramos Ceramic Private Limited (Corporate Debtor) from May 18, 2020, to May 3, 2022, based on purchase instructions. The Corporate Debtor, engaged in manufacturing and printing ceramic tiles, defaulted on payments amounting to Rs. 1,60,48,191/- for invoices raised between August 5, 2021, and May 3, 2022. The Operational Creditor served a demand notice on January 9, 2023, which was returned undelivered. The Corporate Debtor confirmed the outstanding amount on March 4, 2022. The Corporate Debtor raised objections, claiming non-compliance with IBC rules and alleging fraudulent claims. The Corporate Debtor also argued that the Operational Creditor supplied lower quantities of ceramic ink, leading to

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor under Section 9 of the IBC is …

**Ratio:** The proceedings under Section 9 of the IBC are governed by Article 137 of the Limitation

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**Reasoning:** The Adjudicating Authority considered the records and found that the operational creditor

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**Interpretation:** Article 137 of the Limitation Act governs the timeline for initiating

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**Application:** The Adjudicating Authority applied the principle of limitation to the facts of

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Sicer Inkera…
- **Respondents:** Ramos Ceramic…

## Timeline

- **2020-05-18 — Supply of Materials…**: M/s. Sicer Inkera Private Limited started supplying ceramic ink to Ramos Ceramic Private…
- **2022-03-04 — Confirmation of…**: The Corporate Debtor confirmed the outstanding amount of Rs 1,60,48,191 to the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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