# In the matter of Aadnath Trade wings Private Limited

> NCLT judgment dated 2025-02-18. Citation: TCN-2025-NCLT-01124. The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the…

- **Court:** NCLT
- **Order date:** 18 Feb 2025
- **Citation:** TCN-2025-NCLT-01124
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/aadnath-trade-wings-private-limited-725ffccf

## Summary

### Background

The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the Operational Creditor/Petitioner for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.

## Facts

The Operational Creditor, Polyhose India Private Limited, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Aadnath Trade Wings Private Limited.

The total amount in default was Rs. 3,07,09,933.56/- plus interest @ 18% of Rs. 1,75,06,751/-, with the date of default mentioned as 21st March, 2016.

The Operational Creditor and Corporate Debtor had a business relationship where the Operational Creditor supplied construction equipment, machines, graders, and tools to the Corporate Debtor.

The Corporate Debtor acknowledged an outstanding amount vide confirmation letter dated 19th September, 2017, but failed to make payment.

The Operational Creditor issued a demand notice dated 18th July, 2019, requesting outstanding dues.

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the …

**Ratio:** The application is maintainable if it meets

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**Reasoning:** The Tribunal considered the arguments

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**Interpretation:** The application was found to be complete and defect-free in terms of Section 9

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**Application:** The application was

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** M/s. Polyhose…; Polyhouse India…
- **Respondents:** Aadnath Trade…; Aadnath Trade…
- **Other parties:** Dhaval C.…
- **Advocates:** Natasha Dhruman…; Priyal P…; +1 more

## Timeline

- **2016-03-21 — Date of D…**: The date of default as…
- **2017-09-19 — Acknowledgment…**: The Corporate Debtor acknowledged the…

## 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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