# In the matter of Satnam Global Infraprojects Limited IB-394-(ND)-2022

> NCLT judgment dated 2023-04-26. Citation: TCN-2023-NCLT-03615. The case involves an application filed by M/s. Sunder Engineering Works, the Operational…

- **Court:** NCLT
- **Order date:** 26 Apr 2023
- **Citation:** TCN-2023-NCLT-03615
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/satnam-global-infraprojects-limited-ib-394-nd-2022-1c466cb8

## Summary

### Background

The case involves an application filed by M/s. Sunder Engineering Works, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Satnam Global Infraprojects Limited, the Corporate Debtor, due to an alleged default in payment of Rs. 1,28,23,427.07/-. The Operational Creditor claims this amount is payable along with interest as mentioned in the invoices. The Corporate Debtor contested the application, arguing that the amount due was less than the threshold limit of Rs. 1 crore and that the Operational Creditor did not deliver all the goods as per the order placed and supplied inferior goods.

## Facts

M/s. Sunder Engineering Works (Operational Creditor) filed an application under Section 9 of the IBC to initiate CIRP against M/s. Satnam Global Infraprojects Limited (Corporate Debtor) for a debt of Rs. 1,28,23,427.07/-. The debt arose from unpaid invoices for goods supplied, including HR sheets, shapes, and sections. The invoices stipulated an 18% p.a. interest on delayed payments. The Corporate Debtor admitted to a principal debt of Rs. 96,12,291/- but claimed the total debt was below the Rs. 1 crore threshold. The Corporate Debtor also alleged deficiencies in the goods supplied and disputed the invoices. The Operational Creditor contended that interest should be included in the debt calculation and provided evidence of GST filings and input tax credit claims by the

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC is maintainable for initiating CIRP against the …

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

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**Reasoning:** The Adjudicating Authority considered the arguments of both parties and the documents on

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover debts from

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**Application:** The Adjudicating Authority found that the Operational Creditor had met the

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## Parties

- **Judges:** SHRI. P.S.N.…; SHRI. RAHUL…
- **Appellants:** M/S SUNDER…
- **Respondents:** M/s. Satnam…

## Timeline

- **2023-04-26 — Order Da…**: Order passed by the NCLT admitting the…
- **N/A — Application…**: M/s. Sunder Engineering Works filed an application under Section 9 of the IBC to initiate…

## 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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