# In the matter of Panache Construction Private Limited

> NCLT judgment dated 2023-07-21. Citation: TCN-2023-NCLT-05268. Khandelwal Group Pvt. Ltd. filed an application under Section 9 of the IBC, seeking to initiate…

- **Court:** NCLT
- **Order date:** 21 Jul 2023
- **Citation:** TCN-2023-NCLT-05268
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/panache-construction-private-limited-7056c625

## Summary

### Background

Khandelwal Group Pvt. Ltd. filed an application under Section 9 of the IBC, seeking to initiate CIRP against Panache Construction Pvt. Ltd. for failing to pay Rs. 6,64,576/- and Rs. 1,00,000/- as legal expenses.

## Facts

Khandelwal Group Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the IBC against Panache Construction Pvt. Ltd. (Corporate Debtor).

The claim amount was Rs. 6,64,576/- plus Rs. 1,00,000/- as legal expenses.

The Operational Creditor claimed to have supplied steel and steel bars to the Corporate Debtor between 04.06.2017 and 16.06.2017.

The date of default was claimed to be 23.06.2017.

The Operational Creditor issued a demand notice on 13.01.2020 under Section 8 of the IBC.

The Corporate Debtor claimed to have replied to the Section 8 notice on 25.01.2020.

The Corporate Debtor disputed the claim, stating that they only ordered and received goods worth Rs. 53,374/- and had paid in full.

…

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC should be admitted given the dispute regarding …

**Ratio:** The application should be

…

**Reasoning:** The Adjudicating Authority relied on the Supreme Court's judgment in Mobilox Innovations

…

**Interpretation:** The existence of a genuine dispute precludes the admission of an application

…

**Application:** In this case, the Corporate Debtor disputed the invoices and the amount

…

## Parties

- **Judges:** P.S.N. P…; BINOD KUMAR…
- **Appellants:** Khandelwal Group…
- **Respondents:** Panache Constructi…
- **Advocates:** Purav M…; Nitesh…

## Timeline

- **2017-06-04 — Supply of M…**: Operational Creditor supplied the material dated between 04.06.2017 to 16.06.2017 to the…
- **2017-06-23 — Date of D…**: The Applicant submitted that the date of default occurred after seven days of invoice…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-new-delhi/panache-construction-private-limited-7056c625