# NareshKumar Harishchandra Shakya vs. Kena Alloy Private Limited

> NCLT judgment dated 2026-09-08. Citation: TCN-2026-NCLT-00967. Nareshkumar Harishchandra Shakya, Proprietor of N.H. Scrap Traders (Operational Creditor),…

- **Court:** NCLT
- **Order date:** 8 Sept 2026
- **Citation:** TCN-2026-NCLT-00967
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/nareshkumar-harishchandra-shakya-vs-kena-alloy-private-limited-8smhh

## Summary

### Background

Nareshkumar Harishchandra Shakya, Proprietor of N.H. Scrap Traders (Operational Creditor), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Kena Alloys Private Limited (Corporate Debtor) for a default of Rs. 1,48,57,650/-. The default originated from 10.11.2021. Previous applications were rejected on technical grounds, such as the demand notice being in the firm's name instead of the proprietor's, or failure to file a transfer petition. Fresh demand notices were subsequently issued, and the Corporate Debtor acknowledged the outstanding liability and its financial difficulties via email.

## Facts

Nareshkumar Harishchandra Shakya, Proprietor of N.H. Scrap Traders, is the Operational Creditor.

Kena Alloys Private Limited is the Corporate Debtor.

The Operational Creditor filed an application under Section 9 of the IBC for a default of Rs. 1,48,57,650/-.

The default occurred on and from 10.11.2021, which was the due date of the first invoice.

The Operational Creditor, engaged in trading MS Scrap, had been supplying to the Corporate Debtor since 2017.

The Corporate Debtor made regular payments until 09.11.2021, but thereafter failed to make full payment for supplies.

Goods were duly supplied and received by the Corporate Debtor without any dispute or demur.

…

## Issues and analysis

### Issue 1: Whether the application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by the …

**Ratio:** The application under Section 9 of the IBC is allowed, and the Corporate Debtor is

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**Reasoning:** The Tribunal found that the Corporate Debtor defaulted on payment for goods supplied by

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**Interpretation:** Section 9 of the IBC enables an operational creditor to initiate CIRP against a

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**Application:** The NCLT concluded that all conditions for admitting the Corporate Debtor into

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** NareshKumar…
- **Respondents:** Kena Alloy…
- **Other parties:** Ramchandra…; N.H. Scrap…
- **Advocates:** Ravi P…; Pragati…; +1 more

## Timeline

- **2021-11-10 — Default Oc…**: Due date of the first invoice,…
- **2022-02-09 — Balance Confi…**: Corporate Debtor issued a Balance…

## 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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