# Deceuninck Profiles India Private Limited vs. Chiniwalas Pvt Ltd

> NCLT judgment dated 2026-08-25. Citation: TCN-2026-NCLT-00890. Deceuninck Profiles India Private Limited (Operational Creditor) filed an application under…

- **Court:** NCLT
- **Order date:** 25 Aug 2026
- **Citation:** TCN-2026-NCLT-00890
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/deceuninck-profiles-india-private-limited-vs-chiniwalas-pvt-ltd-w1fh6

## Summary

### Background

Deceuninck Profiles India Private Limited (Operational Creditor) filed an application under Section 9 of the IBC against Chiniwalas Pvt Ltd (Corporate Debtor/Guarantor). The Corporate Debtor had provided a guarantee for Oriel Windows Private Limited (Principal Borrower), which defaulted on payments for UPVC profiles supplied by the Operational Creditor. A previous CIRP against Oriel Windows was withdrawn based on Consent Terms, but Oriel Windows subsequently breached these terms, leading to the invocation of the Corporate Guarantee against Chiniwalas Pvt Ltd. The total outstanding debt claimed is Rs. 3,07,92,388/-, including principal, interest, CA fees, and legal costs.

## Facts

Deceuninck Profiles India Private Limited (Applicant/Operational Creditor) filed an application (C.P.(IB) No.683/MB/2025) under Section 9 of the IBC against Chiniwalas Pvt Ltd (Corporate Debtor/Guarantor) on 27.12.2025.

The Applicant is engaged in manufacturing and supply of PVC window and door profiles.

Chiniwalas Pvt Ltd is a sister concern of Oriel Windows Pvt Ltd (Principal Borrower) and acted as a Corporate Guarantor.

Mrs. Megha Agrawal was proposed as the Interim Resolution Professional (IRP).

The Applicant claimed an amount of Rs. 3,07,92,388/- in default, including principal, interest, Chartered Accountants' fees, and Resolution Professional's legal costs and expenses.

The debt's first installment under Consent Terms dated 08.03.2024 was due on 28.04.2024.

…

## Issues and analysis

### Issue 1: Whether the application filed under Section 9 of the IBC by Deceuninck Profiles India Private …

**Ratio:** An application under Section 9 of the IBC is maintainable if all statutory requirements,

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**Reasoning:** The Tribunal found that the Applicant provided necessary evidence to demonstrate the

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**Interpretation:** Section 9 of the IBC outlines the conditions for admitting an application for

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**Application:** The Tribunal concluded that all pre-requisites of Section 9 were fulfilled, and

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## Parties

- **Judges:** NILESH S…; SAMEER…
- **Appellants:** Deceuninck…
- **Respondents:** Chiniwalas…; Oriel Windows…
- **Other parties:** Taher Hatim…; Ebrahim Taher…; +2 more
- **Advocates:** Vidhi S…; Sushil…; +1 more

## Timeline

- **2020-08-08 — Cheque Dish…**: A cheque bearing No.062660 for Rs. 17,00,000/- issued by Oriel Windows Private Limited in…
- **2021-07-31 — Memorandum of…**: Oriel Windows Private Limited and the Applicant executed an MOU for repayment of debt in…

## 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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