# In the matter of Techno Auto Components (India) Private Limited Company Petition No. IB-665-ND-2021

> NCLT judgment dated 2022-05-11. Citation: TCN-2022-NCLT-02783. The case involves an application filed by M/s. Delhi Industrial Corporation, the Operational…

- **Court:** NCLT
- **Order date:** 11 May 2022
- **Citation:** TCN-2022-NCLT-02783
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/techno-auto-components-india-private-limited-company-petition-no-ib-665-nd-2021-39daf0f3

## Summary

### Background

The case involves an application filed by M/s. Delhi Industrial Corporation, the Operational Creditor (OC), under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Techno Auto Components (India) Private Limited, the Corporate Debtor (CD). The OC claimed that the CD defaulted on payments for goods supplied, specifically Synthetic Rubber Chloroprene & EPDM, with outstanding invoices dating back to 30.06.2018. Despite repeated requests and a demand notice issued on 02.10.2021 under Section 8 of the IBC, the CD failed to make the payment. The OC annexed copies of unpaid invoices and the demand notice to its application.

## Facts

M/s. Delhi Industrial Corporation (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Techno Auto Components (India) Private Limited (Corporate Debtor). The Operational Creditor (OC) is engaged in manufacturing and trading rubber products. The OC supplied Synthetic Rubber Chloroprene & EPDM to the Corporate Debtor (CD) and issued invoices. The CD partially paid some invoices, but significant amounts remained unpaid since 30.06.2018. The OC sent a demand notice dated 02.10.2021 under Section 8 of the IBC for Rs.3,00,39,274/-. The CD did not reply to the demand notice. The OC filed the application under Section 9 of the IBC. The CD argued that

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 is complete and …

**Ratio:** Section 9(5) of the IBC outlines the requirements for admitting an application for CIRP.

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**Reasoning:** The Adjudicating Authority found that the Operational Creditor had placed on record the

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**Interpretation:** Section 9 of the IBC provides the mechanism for an operational creditor to

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**Application:** The Adjudicating Authority applied the provisions of Section 9(5) of the IBC to

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## Parties

- **Judges:** Sh. Abni Ranjan…; Sh. Hemant Kumar…
- **Appellants:** M/s. DELHI…
- **Respondents:** M/s. TECHNO AUTO…

## Timeline

- **2018-06-30 — Invoices…**: Invoices from the Operational Creditor to the Corporate Debtor were not fully paid since…
- **2021-10-01 — Resolutio…**: Resolution dated 01.10.2021 and authority letter dated 01.10.2021, with a prayer to…

## 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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