IN THE NATIONAL COMPANY LAW TRIBUNAL NEW DELHI COURT-IV C.P. (IB) 518/ND/2025 IN THE MATTER OF:

Mahakaleshwar Infratech Pvt. Ltd.

...Operational Creditor/Applicant Versus Atlas Constructions Pvt. Ltd.

…Corporate Debtor/Respondent Under Section 9 of the Insolvency & Bankruptcy Code, 2016 and Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority), Rules, 2016 CORAM:

SHRI MANNI SANKARIAH SHANMUGA SUNDARAM HON'BLE MEMBER (JUDICIAL)

SHRI ATUL CHATURVEDI HON'BLE MEMBER (TECHNICAL)

Order delivered on: 09.03.2026 PRESENT:

For the Applicant : Mr. Yash Tandon, Advocate For the Respondent : Mr. Vaibhav Gaggar, Mr. Shrey Patnaik, Mr. Akash Kumar, Mr. Dhurv Dewan, Ms. Saira Khan, Mr. Kush Taneja, Advocates

ORDER

PER: MANNI SANKARIAH SHANMUGA SUNDARAM, MEMBER (JUDICIAL)

1. The present application C.P. (IB) No. 518/ND/2025 is filed on 13.09.2025 under section 9 of the Insolvency and Bankruptcy Code, 2016 (“Code/IBC”) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority), Rules, 2016 by M/s Mahakaleshwar Infratech Pvt. Ltd. (“Applicant/Operational Creditor”) to initiate Corporate Insolvency Resolution Process (“CIRP”) against M/s Atlas Constructions Pvt. Ltd. (“Respondent/Corporate Debtor”) for alleged default of Rs. 2,59,96,811/- (Rupees Two Crore Fifty-Nine Lakhs Ninety-

Six Thousand Eight Hundred and Eleven only).

2. The Corporate Debtor having CIN: U74899DLl988PTC031030 was incorporated on 21.03.1998 under the provisions of the Companies Act, 1956, having its registered office at 42, Nehru Colony, Badarpur, South Delhi, New Delhi, Delhi -110044. Since the registered office of the Respondent/Corporate Debtor is in New Delhi, this Adjudicating Authority having territorial jurisdiction over the NCT of Delhi is the Adjudicating Authority in relation to the prayer for initiation of Corporate Insolvency Resolution Process in respect of Respondent Corporate Debtor under sub-section (1) of Section 60 of the Code.

3. The present application was filed before this Adjudicating Authority by Mr. Amit Kumar Singh, authorized on behalf of the Applicant/Operational Creditor vide Board Resolution dated 11.08.2025 on the ground that the Corporate Debtor has failed to make payment of a sum of Rs. 2,59,96,811/- (Rupees Two Crore Fifty-Nine Lakhs Ninety-Six Thousand Eight Hundred and Eleven only).

4. The particulars of transactions and the circumstances leading to the filing of the present application as averred by the Applicant/Operational Creditor are as under:

i. The Applicant/Operational Creditor is a Company duly registered under the Companies Act 2013, in the year 2015 and is engaged in the business of supply of material used in Construction. The Corporate Debtor is engaged in the business of Construction and is an EPC Contractor having contracts for construction of roads.

ii. The Corporate Debtor approached the Operational Creditor in December 2024 for the supply of Granular Sub-Base (GSB) to be used in the construction of roads.

iii. The Operational Creditor submitted that in pursuance of a Purchase order dated 27.01.2025, it supplied GSB to the Corporate Debtor and raised invoices as per the supply made dated 31.01.2025, 11.02.2025, 19.02.2025, 28.02.2025 and

03.03.2025 for a Total Amount of Rs. 7,60,64,252/- (Rupees Seven Crores Sixty Lakhs Sixty-Four Thousand Two Hundred and Fifty-Two Only) which were also duly acknowledged by the Corporate Debtor. The term of payment was 30 days after the E-

way bill submission/date to the corporate debtor.

iv. The Operational Creditor clarified that the Corporate Debtor had made part payment toward these invoices raised on various occasions amounting to a total of Rs. 5 Crores (Rs. 50 Lakhs on 07.02.2025, Rs. 80 Lakhs on 21.02.2025, Rs. 50 Lakhs on 12.03.2025, Rs. 1 Crore on 29.03.2025, Rs. 1 Crore on 08.04.2025, Rs. 20 Lakhs on 15.04.2025 and Rs. 1 Crore on 29.04.2025), which shows that that the corporate debtor acknowledges the invoices and the supply without any dispu