Steel Associates Vs Roadway Solutions India Infra Limited (NCLT Mumbai)
Summary: The National Company Law Tribunal, Mumbai Bench-VI, admitted C.P. (IB) No.1006/MB/2025 filed by Shree Steel Associates, through its Authorized Signatory Mr. Nitesh Kumawat, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Roadway Solutions India Infra Limited for initiation of Corporate Insolvency Resolution Process. The Application was filed on 29.08.2025 in relation to alleged non-payment of operational debt arising from supply of steel materials. The proceedings were pronounced on 02.09.2026.
The Applicant claimed total default of Rs. 2,35,82,157.67/-, comprising principal of Rs. 1,73,12,233/- and interest of Rs. 62,69,924.67/- at 18% per annum. The stated date of default was 15.11.2022. The Applicant asserted that ten invoices were raised for supplies made between 01.11.2022 and 15.11.2022, aggregating to Rs. 3,02,62,164/-. The Corporate Debtor allegedly made part-payments totalling Rs. 1,29,24,305/-, leaving the claimed principal outstanding. The Applicant also relied upon five post-dated cheques aggregating to Rs. 1,22,63,311/- and a separate cheque for Rs. 25,00,000/- which was dishonoured with the remark “PAYMENT STOPPED BY DRAWER”.
The Applicant relied on, among other documents, the Corporate Debtor’s MCA master data, outstanding invoices, bank statements showing part-payment and cheque dishonour, cheques issued by the Corporate Debtor, Form 26AS showing TDS deduction, the Section 8 demand notice dated 23.06.2025 and its delivery records, computation of interest, ledger, NeSL email dated 18.08.2025, written consent of the proposed Resolution Professional and the affidavit under Section 9(3)(b). The Applicant subsequently informed the Tribunal that the Authorisation for Assignment of the proposed IRP was not available on the IBBI website and requested appointment of another IRP.
