# Yatayat Corporation India Pvt. Ltd vs. Shrenik Limited

> NCLT judgment dated 2026-07-30. Citation: TCN-2026-NCLT-00753. M/s Yatayat Corporation India Pvt. Ltd (Operational Creditor), a transport and logistics…

- **Court:** NCLT
- **Order date:** 30 Jul 2026
- **Citation:** TCN-2026-NCLT-00753
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/yatayat-corporation-india-pvt-ltd-vs-shrenik-limited-ybi8p

## Summary

### Background

M/s Yatayat Corporation India Pvt. Ltd (Operational Creditor), a transport and logistics company and an MSME unit, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Shrenik Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a total outstanding debt of Rs. 5,92,78,324/- as of 24.05.2023, with the date of default stated as 10.12.2019. The debt included principal and interest calculated at three times the bank rate as per the MSME Act, 2006, for unpaid transportation services. The Corporate Debtor disputed the claim, alleging that the petition was time-barred, that there were discrepancies in the date of default, and that the Operational Creditor failed to

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## Facts

A petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s Yatayat Corporation India Pvt. Limited (Operational Creditor) against M/s Shrenik Limited (Corporate Debtor).

The Operational Creditor is a private limited company, converted from a partnership firm on 14.06.2022, and operates as a transport and logistics company, identified as an MSME unit.

The Corporate Debtor was incorporated on 20.12.2012.

The total outstanding debt claimed by the Operational Creditor is Rs. 5,92,78,324/- as on 24.05.2023, comprising Rs. 3,22,91,349/- principal and Rs. 2,69,86,975/- interest.

The date of default is stated as 10.12.2019.

Interest is claimed at three times the bank rate as per Section 15 of the MSME Act, 2006.

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## Issues and analysis

### Issue 1: Whether the petition filed by M/s Yatayat Corporation India Pvt. Ltd. under Section 9 of the IBC is …

**Ratio:** A petition under Section 9 of the IBC is maintainable if there is an undisputed

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**Reasoning:** The NCLT observed that there was an outstanding debt and default. The applicant is an

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**Interpretation:** The NCLT found that the conditions for initiating CIRP under Section 9,

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**Application:** The NCLT allowed the petition,

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** M/s Yatayat…
- **Respondents:** M/s Shrenik…
- **Other parties:** Rahul…
- **Advocates:** Mohit G…; Aditya…; +2 more

## Timeline

- **2019-01-12 — Debt fel…**: Debt fell due on various dates from 12.01.2019 onwards, 45 days after the respective…
- **2019-12-09 — Payment by Corporate…**: The Corporate Debtor made a…

## 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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