# Shree Steel Associates vs. Roadway Solutions India Infra Limited

> NCLT judgment dated 2026-09-02. Citation: TCN-2026-NCLT-00911. Shree Steel Associates (Operational Creditor) filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 2 Sept 2026
- **Citation:** TCN-2026-NCLT-00911
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/shree-steel-associates-vs-roadway-solutions-india-infra-limited-qvx81

## Summary

### Background

Shree Steel Associates (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Roadway Solutions India Infra Limited (Corporate Debtor) due to an unpaid operational debt. The Applicant claimed a total default amount of Rs. 2,35,82,157.67/-, including principal and interest, arising from the supply of various steel materials. The Corporate Debtor denied the debt, asserting no contractual relationship, no proof of delivery, and alleging that the cheques issued were security for a different transaction with a third party, Mr. D.P. Sehgal, and were misused.

## Facts

An Application bearing C.P. (IB) No.1006/MB/2025 was filed on 29.08.2025 by Shree Steel Associates (Applicant/Operational Creditor) under Section 9 of the IBC.

The application was filed against Roadway Solutions India Infra Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP).

Shree Steel Associates is engaged in the business of trading, supplying, and exporting metal products for construction and manufacturing industries.

Roadway Solutions India Infra Limited is engaged in the business of building constructions and civil engineering.

The Applicant proposed Mr. Prashant Agrawal to act as Interim Resolution Professional (IRP), but his Authorization for Assignment (AFA) was found invalid on the IBBI website.

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## Issues and analysis

### Issue 1: Whether there exists an operational debt due and …

**Ratio:** The existence of operational debt is established by invoices, part payments, TDS

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**Reasoning:** The Applicant produced 10 tax invoices for steel supplies, account statements showing

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**Interpretation:** The Tribunal interpreted the CD's actions (part payments, TDS deductions,

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**Application:** The Tribunal applied these facts to conclude that an operational debt of Rs.

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## Parties

- **Judges:** NILESH SHARMA,…; SAMEER KAKAR,…
- **Appellants:** Shree Steel…; Shree Steel…
- **Respondents:** M/S ROADWAY…; Roadway Solutions…
- **Other parties:** Committee of…; Prashant A…; +1 more
- **Advocates:** Prakul Kh…; Abhinav M…; +4 more

## Timeline

- **2022-05-30 — Contract Award…**: The Corporate Debtor was awarded the contract for strengthening/overlaying work on the…
- **2022-11-01 — Start of Suppl…**: Applicant began supplying steel…

## 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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