# In the matter of Indotech Industrial Solutions Pvt. Ltd.

> NCLT judgment dated 2023-06-27. Citation: TCN-2023-NCLT-05409. The case pertains to a petition filed by Vishal Steels, an Operational Creditor, under Section…

- **Court:** NCLT
- **Order date:** 27 Jun 2023
- **Citation:** TCN-2023-NCLT-05409
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/indotech-industrial-solutions-pvt-ltd-add9b041

## Summary

### Background

The case pertains to a petition filed by Vishal Steels, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Indotech Industrial Solutions Pvt Ltd, the Corporate Debtor.

## Facts

Vishal Steels filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of CIRP against Indotech Industrial Solutions Pvt Ltd.

Vishal Steels is claiming Rs. 18,67,006/- with subsequent interest based on invoices dated 19.12.2017.

Operational Creditor issued a demand notice on 03.08.2019, calling upon the Corporate Debtor to pay the outstanding amount.

Indotech Industrial Solutions Pvt Ltd appeared through Advocate Mr. Ansari Faiyaz Ahmed but did not file an Affidavit in Reply.

The Adjudicating Authority admitted the petition and ordered initiation of CIRP against the Corporate Debtor.

A moratorium under Section 14 of the IBC was declared.

Mr. Uday Shreeram Sakrikar was appointed as the Interim Resolution Professional (IRP).

…

## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor is complete in all respects as required …

**Ratio:** The application made by the Operational Creditor is complete in all respects as required

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**Reasoning:** The Adjudicating Authority observed that the application was complete and showed that the

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**Interpretation:** The completeness of the application is a prerequisite for the admission of the

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**Application:** The Adjudicating Authority considered the application complete and proceeded to

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## Parties

- **Judges:** Anu Jagmoha…; H.V. Subb…
- **Appellants:** Vishal S…
- **Respondents:** Indotech Industria…
- **Other parties:** Uday Shreeram…
- **Advocates:** Aviraj…; Ansari Faiyaz…

## Timeline

- **2019-12-19 — Invoice…**: Invoices were issued on this date,…
- **2019-08-03 — Demand Noti…**: Operational Creditor issued a demand…

## 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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