# In the matter of Richfield Engineering India Private Limited

> NCLT judgment dated 2025-02-04. Citation: TCN-2025-NCLT-00535. The case involves a petition filed under Section 433 and 434 r.w. Section 439 of the Companies…

- **Court:** NCLT
- **Order date:** 4 Feb 2025
- **Citation:** TCN-2025-NCLT-00535
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/richfield-engineering-india-private-limited-c7ffb4b1

## Summary

### Background

The case involves a petition filed under Section 433 and 434 r.w. Section 439 of the Companies Act, 1956, initially in the High Court of Gujarat and later transferred to the NCLT. The petitioner, Steel Associates, seeks the dissolution of the respondent, Richfield Engineering India Private Limited, and the appointment of a liquidator, citing an outstanding debt of Rs. 33,68,190/-. The respondent disputes the quality and quantity of goods supplied, leading to a series of appeals and challenges before various courts, including the Supreme Court.

## Facts

Steel Associates, a proprietorship firm and wholesaler/retailer of iron and steel products, supplied steel materials to Richfield Engineering India Pvt. Ltd. between January 2014 and March 2014. The total amount due was Rs. 33,68,190/-, including principal and interest. Richfield Engineering failed to make payments within the agreed 45/60 days. Steel Associates issued a statutory notice under Section 433/434 of the Companies Act, 1956, on 18.10.2014, but Richfield did not reply. Richfield claimed the materials were substandard and rejected by their client, IOCL, leading to losses. However, Steel Associates argued that Richfield did not raise disputes promptly and that the invoices were for materials supplied after the alleged rejection. The case was initially filed in

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## Issues and analysis

### Issue 1: Whether the petition for winding up should be …

**Ratio:** Section 9 of the IBC, 2016, allows an operational creditor to initiate CIRP against a

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**Reasoning:** The court observed that the respondent failed to pay the outstanding dues despite the

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**Interpretation:** Section 9 of the IBC provides a mechanism for operational creditors to recover

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**Application:** The court applied Section 9 of the IBC to the facts of the case, finding that

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Steel Asso…
- **Respondents:** Richfield…

## Timeline

- **2014-01-01 — Supply of Steel…**: Steel Associates supplied steel materials to Richfield Engineering India Pvt. Ltd.…
- **2014-10-18 — Statutory Noti…**: Steel Associates issued a statutory notice under Section 433/434 of the Companies Act,…

## 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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