# In the matter of KRISH FASHIONS BRANDS PRIVATE LIMITED

> NCLT judgment dated 2026-01-16. Citation: TCN-2026-NCLT-00028. Smartpaddle Technology Pvt. Ltd. filed a petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 16 Jan 2026
- **Citation:** TCN-2026-NCLT-00028
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/krish-fashions-brands-private-limited-7e21454a

## Summary

### Background

Smartpaddle Technology Pvt. Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Krish Fashions Brands Pvt. Ltd. due to a default in payment of Rs. 7,70,23,104/-.

## Facts

Smartpaddle Technology Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the IBC to initiate CIRP against Krish Fashions Brands Pvt. Ltd. (Corporate Debtor).

The Operational Creditor claimed a default of Rs. 7,70,23,104/- as of 27.07.2023, including unpaid invoices and interest.

The Corporate Debtor argued that there was a pre-existing dispute and that the invoices were disputed.

The Corporate Debtor claimed that they had initiated criminal proceedings against a director of the Operational Creditor.

The Operational Creditor contended that the Corporate Debtor had not raised any objections to the invoices within the stipulated timeframe.

The court found that the Corporate Debtor had failed to provide sufficient evidence of a pre-existing dispute.

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## Issues and analysis

### Issue 1: Whether there was a pre-existing dispute between the …

**Ratio:** The Hon'ble Supreme Court in Mobilox Innovations Pvt. Ltd. v. Kirusa Software Pvt. Ltd.,

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**Reasoning:** The court found that the Corporate Debtor had not raised any objections to the invoices

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**Interpretation:** A dispute must be supported by contemporaneous evidence and not be a mere

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**Application:** In this case, the Corporate Debtor's claim of a pre-existing dispute was

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Smartpaddle…; Smartpaddle…
- **Respondents:** Krish Fashions…
- **Other parties:** T. Narayana…

## Timeline

- **12.10.2023 — Petition…**: The present Petition was filed on 12.10.2023 under section 9 of the Insolvency and…
- **10.06.2022 — Date of D…**: Date of Default mentioned in…

## 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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