# In the matter of Revital Reality Private Limited IB-796-(ND)-2021

> NCLT judgment dated 2023-03-16. Citation: TCN-2023-NCLT-04224. The case involves an application filed by M/s. Bharat Steel Rolling Mills Unit-1 (Operational…

- **Court:** NCLT
- **Order date:** 16 Mar 2023
- **Citation:** TCN-2023-NCLT-04224
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/revital-reality-private-limited-ib-796-nd-2021-b120c7e7

## Summary

### Background

The case involves an application filed by M/s. Bharat Steel Rolling Mills Unit-1 (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Revital Reality Private Limited (Corporate Debtor) for an alleged default of Rs. 2,09,30,316/-. The Operational Creditor claimed to have supplied T.M.T & Structural Steel to the Corporate Debtor based on verbal orders from 2017 to 2021. The Corporate Debtor allegedly failed to clear the outstanding debt despite receiving the goods and invoices.

## Facts

M/s. Bharat Steel Rolling Mills Unit-1, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP against M/s. Revital Reality Private Limited, the Corporate Debtor. The Operational Creditor claimed that it supplied T.M.T & Structural Steel to the Corporate Debtor based on verbal orders between 2017 and 2021. The total amount of goods supplied was Rs. 10,54,06,643/-, against which the Corporate Debtor made part payments of Rs. 8,58,17,545/-. The outstanding balance was Rs. 1,95,89,098/-, including principal and interest. The Operational Creditor issued a demand notice in Form-3 on 30.09.2021, which was received by the Corporate Debtor on 01.10.2021. The Corporate Debtor did not raise any

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC is maintainable when filed by an unregistered …

**Ratio:** The NCLT relied on the judgment of the Hon'ble NCLAT in Rourkela Steel Syndicate vs.

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**Reasoning:** The NCLT considered the arguments presented by both parties and referred to the NCLAT's

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**Interpretation:** This interpretation clarifies that the restriction on unregistered partnership

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**Application:** The NCLT determined that the fact that the Operational Creditor was an

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## Parties

- **Judges:** SHRI. P.S.N.…; SHRI. RAHUL…
- **Appellants:** M/S. BHARAT STEEL…
- **Respondents:** M/S. REVITAL…

## Timeline

- **2017-01-01 — Verbal O…**: Corporate Debtor placed verbal orders for T.M.T…
- **2021-09-30 — Demand N…**: Operational Creditor sent a demand…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8(1) — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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