# In the matter of Teknik Plant and Machinery MFG Co. Pvt. Ltd. C.P. No. 841-IBC-MB-2020

> NCLT judgment dated 2022-02-11. Citation: TCN-2022-NCLT-04172. The case involves a petition filed by H. R. Bearing Corporation, an operational creditor,…

- **Court:** NCLT
- **Order date:** 11 Feb 2022
- **Citation:** TCN-2022-NCLT-04172
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/teknik-plant-and-machinery-mfg-co-pvt-ltd-cp-no-841-ibc-mb-2020-5bd8a96a

## Summary

### Background

The case involves a petition filed by H. R. Bearing Corporation, an operational creditor, against Teknik Plant & Machinery MFG. Co. Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for an unresolved operational debt of Rs. 33,20,744. The operational creditor claimed to have supplied bearing goods to the corporate debtor from time to time, issuing invoices for the same. The corporate debtor allegedly made part payments but failed to clear the outstanding dues, leading to the issuance of a demand notice by the operational creditor.

## Facts

H. R. Bearing Corporation, the operational creditor, filed a company petition against Teknik Plant & Machinery MFG. Co. Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor claimed an unresolved operational debt of Rs. 33,20,744. The operational creditor is a dealer in Ball & Roller Bearings goods/materials. From February 2013, the corporate debtor approached the operational creditor to purchase various bearing items. The operational creditor supplied bearing goods to the corporate debtor as per requirements, and the corporate debtor received the materials without raising any objections regarding the quality. The operational creditor issued tax invoices from 14/05/2013 to 29/05/2019, which the

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## Issues and analysis

### Issue 1: Whether the Company Petition No. (IB) - 841(MB)/2020 should be admitted for the initiation of …

**Ratio:** The ratio is based on Section 9 of the Insolvency and Bankruptcy Code, 2016, which allows

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**Reasoning:** The court reasoned that since the corporate debtor admitted the claim amount and did not

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**Interpretation:** The interpretation of Section 9 is that if the operational creditor

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**Application:** The ratio and reasoning were applied to the facts of the case, where the

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## Parties

- **Judges:** H.V. Subb…; Chandra Bha…
- **Appellants:** H. R. Bearing…
- **Respondents:** Teknik Plant &…

## Timeline

- **1981-06-22 — Incorporation of…**: Teknik Plant & Machinery MFG. Co. Pvt. Ltd. was incorporated under the Companies Act,…
- **2013-02-01 — Commencement of…**: On or before February 2013, the corporate debtor approached the operational creditor to…

## 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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