# In the matter of PENTECH METALS LIMITED

> NCLT judgment dated 2025-07-14. Citation: TCN-2025-NCLT-00777. This case involves an application filed by Joys Steel Impex, an Operational Creditor, under…

- **Court:** NCLT
- **Order date:** 14 Jul 2025
- **Citation:** TCN-2025-NCLT-00777
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/pentech-metals-limited-96355c2a

## Summary

### Background

This case involves an application filed by Joys Steel Impex, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Pentech Metals Limited, the Corporate Debtor.

## Facts

Joys Steel Impex filed an application under Section 9 of the IBC to initiate CIRP against Pentech Metals Limited.

The amount claimed to be in default is Rs. 31,79,49,187.54, including principal and interest.

The date of default mentioned in the application is 05.09.2019.

Joys Steel Impex supplied HR Coils to Pentech Metals Limited in 2019.

Pentech Metals Limited acknowledged receipt of the Applicant's letters on 05.12.2022 and requested time to clear the dues.

The Corporate Debtor (CD) made part payments amounting to Rs. 16,79,47,557/- towards certain invoices.

The CD issued a written communication dated 05.12.2022 acknowledging financial distress and outstanding liability.

The Applicant proposed Ms. Dipti Narayan Mundra as the Interim Resolution Professional (IRP).

## Issues and analysis

### Issue 1: Whether the application under …

**Ratio:** The Hon'ble Supreme Court in Mobilox Innovations Pvt. Ltd. v. Kirusa Software Pvt. Ltd.

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**Reasoning:** The Adjudicating Authority found that an operational debt existed, a default had

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**Interpretation:** The application is maintainable if the

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**Application:** The application was found to be

…

## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Joys Steel…
- **Respondents:** Pentech Metals…
- **Other parties:** fdf,rtret…; Kunal G…; +2 more
- **Advocates:** Gaurav Ja…; Shourya K…

## Timeline

- **2025-02-14 — Application…**: C.P. (IB) No. 387 of 2025 was…
- **2019-09-05 — Date of D…**: The date of default…

## 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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