NCLT Admits Roadway Solutions to CIRP Over ₹1.73 Crore Steel Dues; Moratorium Begins
The National Company Law Tribunal, Mumbai Bench VI, has admitted Roadway Solutions India Infra Limited into the corporate insolvency resolution process on a petition filed by Shree Steel Associates under Section 9 of the Insolvency and Bankruptcy Code, 2016. The order was pronounced on September 2, 2026 in CP (IB) No. 1006/MB/2025.
The case is useful for operational creditors and finance professionals because the tribunal did not rely on a single document. It considered a chain of commercial and accounting evidence that included invoices, e-way bills, account statements, ledger entries, part-payments, post-dated cheques, TDS material and a NeSL record of default. The order also illustrates why a corporate debtor needs contemporaneous evidence if it wants to establish a genuine pre-existing dispute before admission.
Steel supplies, part-payments and the claimed default
Shree Steel Associates said it supplied steel materials to Roadway Solutions India Infra between November 1 and November 15, 2022 through 10 invoices aggregating ₹3,02,62,164. The operational creditor recorded part-payments on November 4 and December 9, 2022 totalling ₹1,29,24,305, leaving a principal balance of ₹1,73,12,233.
The petition stated a default date of November 15, 2022 and claimed approximately ₹2.35 crore after adding contractual interest at 18%. Five post-dated cheques aggregating ₹1,22,63,311 were also relied upon. The order records that one cheque for ₹25 lakh dated January 5, 2024 was returned with the remark payment stopped by drawer.
A demand notice under Section 8 of the IBC was issued on June 23, 2025 and delivered on June 27. The tribunal noted that the corporate debtor did not reply to that demand notice or place a dispute on record at that stage.
NCLT relied on a cumulative evidence trail
The corporate debtor denied a contractual relationship, questioned proof of delivery and argued that the cheques had been issued for another purpose. It also referred to GST input-tax-credit issues. NCLT was not persuaded by those submissions on the record before it.
The tribunal observed that the invoices and e-way bills, account statements and ledger, the admitted part-payments and post-dated cheques together supported the existence of the commercial relationship. The order also noted TDS deposited on the part-payments. That accounting trail was important because it was consistent with the creditor's case that the payments related to the steel-supply transactions.
On the GST argument, NCLT referred to the requirement relating to receipt of goods under Section 16(2)(b) of the Central Goods and Services Tax Act, 2017. It found that the corporate debtor's assertion concerning reversal of input tax credit was not backed by evidence sufficient to displace the documentary record relied on by the operational creditor.
NeSL default record and the ₹1 crore threshold
The creditor also produced a NeSL record in which the default was shown as DA-Deemed to be Authenticated. The order records an outstanding amount of about ₹2.34 crore in that information-utility record with the default date shown as November 15, 2022.
NCLT held that the debt crossed the ₹1 crore minimum threshold under Section 4 of the IBC. It also found the application to be within limitation, noting the timing of the default as well as the part-payments and post-dated cheques. Those later acknowledgments were relevant to the limitation analysis.
Admission does not mean NCLT crystallised every rupee claimed
An important qualification in the order is that the tribunal did not finally determine the precise amount payable to the operational creditor. While it found the statutory conditions for admission satisfied, verification of the exact claim is left to the insolvency-resolution process and the Interim Resolution Professional. Professionals should therefore distinguish the admission threshold from final claim verification.
Moratorium starts and IRP appointed
With the petition admitted, NCLT declared a moratorium under Section 14 of the IBC. It appointed Suresh Chandra Jena, registration number IBBI/IPA-001/IP-P-01540/2019-2020/12473, as the Interim Resolution Professional. The order records that his authorisation for assignment is valid until December 31, 2026.
The operational creditor was directed to deposit ₹3 lakh towards initial CIRP expenses. Management of the corporate debtor is to vest in the IRP in accordance with the Code, and the IRP is required to make the public announcement and undertake the statutory steps that follow admission. The order also directs communication to the Registrar of Companies, Maharashtra and other relevant authorities and contemplates periodic progress reporting.
What CAs and creditors should take from the order
- Build a complete transaction trail: invoices alone may be contested; e-way bills, bank entries, ledgers, TDS records and payment acknowledgments can materially strengthen the evidentiary picture.
- Do not ignore the Section 8 stage: a genuine pre-existing dispute should be supported and raised contemporaneously rather than constructed only after a Section 9 petition is filed.
- Reconcile GST and accounting records: arguments about delivery or tax-credit treatment need documentary support and should be consistent with books, tax filings and payment records.
- Separate admission from claim quantum: crossing the statutory threshold can support CIRP admission even though the IRP must still verify the creditor's final claim.
The practical takeaway is that insolvency admission can turn on the coherence of the underlying commercial records. In this case, NCLT treated the combined trail of supply documents, payments, tax records, cheques and NeSL information as sufficient to establish an operational debt and default for the purpose of commencing CIRP.
Official source: View the official source document
Key takeaway
The fresh NCLT order gives detailed guidance on the evidentiary value of invoices, e-way bills, part-payments, TDS, post-dated cheques and NeSL records in an operational-creditor insolvency petition.
