# Agrirevolve Trading Private Limited vs. Spright Agro Limited

> NCLT judgment dated 2026-09-24. Citation: TCN-2026-NCLT-01142. Agrirevolve Trading Private Limited (Operational Creditor) filed a petition under Section 9 of…

- **Court:** NCLT
- **Order date:** 24 Sept 2026
- **Citation:** TCN-2026-NCLT-01142
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/spright-agro-limited-opwk2

## Summary

### Background

Agrirevolve Trading Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Spright Agro Limited (Corporate Debtor). The Operational Creditor claimed a total default amount of Rs. 8,66,48,162.53/-, with the date of default being 15.12.2025. The default arose from a supply agreement dated 18.10.2025 for agricultural products, where the Corporate Debtor failed to honor post-dated cheques and admitted its inability to pay the outstanding amount, though it disputed the 18% p.a. interest claim.

## Facts

Agrirevolve Trading Private Limited (Operational Creditor/Petitioner) filed a petition under Section 9 of the IBC, 2016, for initiation of Corporate Insolvency Resolution Process (CIRP) against Spright Agro Limited (Corporate Debtor).

The total amount in default is Rs. 8,66,48,162.53/-.

The date of default is 15.12.2025.

The Operational Creditor nominated Mr. Rajesh Jasti, CA (Registration No. IBBI/IPA-02317/2020-2021/13469), to act as Interim Resolution Professional (IRP) and filed his written communication.

The Petitioner/Operational Creditor is a Private Limited Company incorporated on 07.08.2024, engaged in trading agriculture and ancillary products.

The Corporate Debtor is a public limited company.

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Spright Agro Limited, has committed a default in payment of …

**Ratio:** Yes, the Corporate Debtor confirmed the outstanding principal amount, failed to honor

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**Reasoning:** The Operational Creditor supplied goods, and the Corporate Debtor acknowledged the debt

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**Interpretation:** A confirmed debt, non-payment, and an authenticated default record are

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**Application:** Agrirevolve Trading Private Limited successfully demonstrated that Spright Agro

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## Parties

- **Judges:** Chitra Hankare,…; Velamur G Venkata…
- **Appellants:** Agrirevolve…
- **Respondents:** Spright Agro…
- **Other parties:** Nileshbhai…; Rajesh Jas…
- **Advocates:** Prutha Bh…; Rajiv C…

## Timeline

- **2025-10-18 — Supply Agr…**: Operational Creditor and Corporate…
- **2025-11-15 — Goods Suppl…**: Goods were regularly supplied to 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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