# Agrirevolve Trading Private Limited vs. Spright Agro Limited

> NCLT judgment dated 2026-09-24. Citation: TCN-2026-NCLT-01052. Agrirevolve Trading Private Limited (Operational Creditor) filed a petition under Section 9 of…

- **Court:** NCLT
- **Order date:** 24 Sept 2026
- **Citation:** TCN-2026-NCLT-01052
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/ts-party-agrirevolve-trading-private-limited-vs-spright-agro-limited-vf5jb

## 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 default amount claimed is Rs. 8,66,48,162.53/-, arising from a supply agreement for agricultural products. The Corporate Debtor issued post-dated cheques which were not honored and admitted the principal debt but disputed the 18% per annum interest.

## Facts

Agrirevolve Trading Private Limited (Operational Creditor) 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 claimed by the Operational Creditor is Rs. 8,66,48,162.53/-, with the date of default being 15.12.2025.

The Operational Creditor nominated Mr. Rajesh Jasti, CA, as the Interim Resolution Professional (IRP).

The Operational Creditor is a Private Limited Company incorporated on 07.08.2024, engaged in trading agriculture products, and the Corporate Debtor is a public limited company.

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## Issues and analysis

### Issue 1: Whether the petition filed by Agrirevolve Trading Private Limited under Section 9 of the Insolvency …

**Ratio:** A Section 9 petition for CIRP should be admitted if there is an undisputed operational

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**Reasoning:** The Operational Creditor provided evidence of a supply agreement, invoices, transport

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**Interpretation:** The admission of the principal debt by the Corporate Debtor, coupled with

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**Application:** Since the Corporate Debtor admitted the principal debt and the default date was

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## Parties

- **Judges:** Chitra Ha…; 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 Debtor entered into a supply agreement for…
- **2025-11-15 — Start of Good…**: Operational Creditor began…

## 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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