Manoj Stone Infra Pvt. Ltd. Vs Railsys Engineers Pvt. Ltd. (NCLAT Delhi)
The appeal before the National Company Law Appellate Tribunal (NCLAT), Delhi arose from an order of the National Company Law Tribunal (NCLT), Mumbai, which had dismissed an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Operational Creditor challenged the dismissal of its application. The Tribunal also condoned an 8-day delay in refiling the appeal.
The Operational Creditor submitted that it had supplied signalling cables and other electronic items to the Corporate Debtor pursuant to purchase orders. According to the Operational Creditor, the goods were procured from RDSO-approved vendors to ensure quality and were supplied directly to the Corporate Debtor’s project site for onward supply to RITES Ltd. Two invoices amounting to Rs. 2,57,26,234 were raised, acknowledged by the Corporate Debtor with endorsements confirming receipt and directing payment. The Corporate Debtor made a part payment of Rs. 62,85,000, leaving an outstanding amount of Rs. 1,94,41,234. After issuing a demand notice under Section 8 of the IBC without receiving any reply or further payment, the Operational Creditor filed a Section 9 application.
