# In the matter of Pankaj Agarwal Vs. H.V.R. Industries Pvt. Ltd. & Anr. Company Appeal (AT) (Insolvency) No. 482 of 2022

> NCLAT judgment dated 2022-05-02. Citation: TCN-2022-NCLAT-00511. The appeal was filed against the order dated March 10, 2022, by which the application filed…

- **Court:** NCLAT
- **Order date:** 2 May 2022
- **Citation:** TCN-2022-NCLAT-00511
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/pankaj-agarwal-vs-hvr-industries-pvt-ltd-anr-company-appeal-9920e3d7

## Summary

### Background

The appeal was filed against the order dated March 10, 2022, by which the application filed by the Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, was admitted. The appellant disputed the amount claimed by the Operational Creditor, stating that the admitted amount was only Rs. 3,10,789/- and that the debit note claimed by the Operational Creditor was never admitted. The appellant also claimed that there was no service of notice under Section 8 of the Code.

## Facts

Pankaj Agarwal (Appellant) filed an appeal against the order dated March 10, 2022, by which the Adjudicating Authority admitted the application filed by H.V.R. Industries Pvt. Ltd. & Anr. (Operational Creditor/Respondent) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Appellant disputed the amount claimed by the Operational Creditor, stating that the admitted amount was only Rs. 3,10,789/- and that the debit note claimed by the Operational Creditor was never admitted. The Appellant also claimed that there was no service of notice under Section 8 of the Code. The Adjudicating Authority relied on the fact that 'Debt' and 'Default' were admitted by the Appellant and that the debt was more than the threshold. The Appellant submitted that he is ready

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in admitting the application under Section 9 of the …

**Ratio:** The Adjudicating Authority can admit the application under Section 9 of the Insolvency

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**Reasoning:** The Adjudicating Authority relied on the fact that 'Debt' and 'Default' were admitted by

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**Interpretation:** Section 9 of the Insolvency and Bankruptcy Code, 2016 allows an operational

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**Application:** In this case, the Adjudicating Authority found that the Appellant admitted the

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## Parties

- **Judges:** Ashok Bh…; Shreesha…
- **Appellants:** Pankaj Ag…
- **Respondents:** H.V.R. Industries…

## Timeline

- **2022-03-10 — Order Da…**: Order passed by the Adjudicating Authority admitting the application filed by the…
- **2022-05-02 — Appeal F…**: Appeal filed by the Appellant…

## 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)

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