# In the matter of L&T Valves Limited CP (IB) No. 791-MB-V-2021

> NCLT judgment dated 2023-06-14. Citation: TCN-2023-NCLT-05451. Real Link Engineering India Private Limited filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 14 Jun 2023
- **Citation:** TCN-2023-NCLT-05451
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/lt-valves-limited-cp-ib-no-791-mb-v-2021-ab8452d7

## Summary

### Background

Real Link Engineering India Private Limited filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against L&T Valves Limited for claiming a total outstanding amount of Rs. 1,18,57,274/-.

## Facts

Real Link Engineering India Private Limited (Operational Creditor) filed an application under Section 9 of the I&B Code against L&T Valves Limited (Corporate Debtor).

The Operational Creditor claimed a total outstanding of Rs. 1,18,57,274/-.

The Corporate Debtor argued that there was a pre-existing dispute regarding the quality of goods supplied.

The Corporate Debtor issued debit notes for substandard material provided by the Operational Creditor.

The Operational Creditor supplied 132 nos. of rough castings after inspection by the inspector appointed by the Corporate Debtor.

The Corporate Debtor admitted liability in its website portal up to Rs.31,01,323/- and a further sum of Rs.87,55,951/- in the form of Debit Notes, appearing in the GST Portal.

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## Issues and analysis

### Issue 1: Whether there was a pre-existing …

**Ratio:** The existence of a pre-existing dispute is a bar to the admission of an application under

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**Reasoning:** The correspondence exchanged between the parties prior to the issuance of the demand

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**Interpretation:** The tribunal interpreted the correspondence as evidence of a pre-existing

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**Application:** The tribunal applied the principle that a pre-existing dispute bars the

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## Parties

- **Judges:** Kuldip Kumar…; ANURADHA SANJAY…
- **Appellants:** Real Link…
- **Respondents:** L&T Valves…
- **Advocates:** R. Ra…; Rashid Boa…; +2 more

## Timeline

- **2021-04-28 — Default…**: The Default as mentioned in…
- **2021-07-29 — Petition…**: The Petition was filed…

## 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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