# Valufocus Eco- Revive Packaging vs. Devkiran Paper Mills Private Limited

> NCLT judgment dated 2026-05-26. Citation: TCN-2026-NCLT-00550. Valufocus Eco-Revive Packaging (Operational Creditor) filed a petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 26 May 2026
- **Citation:** TCN-2026-NCLT-00550
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/valufocus-eco-revive-packaging-vs-devkiran-paper-mills-private-limited-9uwij

## Summary

### Background

Valufocus Eco-Revive Packaging (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against Devkiran Paper Mills Private Limited (Corporate Debtor) for default in payment of an operational debt of INR 1,96,42,797.44. The Operational Creditor supplied wastepaper and raised 14 invoices, with a principal sum of INR 1,66,98,801/- remaining outstanding after a part payment by the Corporate Debtor. Demand notices were issued, but the Corporate Debtor failed to pay or raise any pre-existing dispute. The Corporate Debtor contended the petition was premature due to ongoing settlement discussions, cited financial stress, claimed invoices lacked due dates, mentioned pending SARFAESI proceedings by another creditor, and disputed the quantum and validity of the

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## Facts

Valufocus Eco-Revive Packaging (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against Devkiran Paper Mills Private Limited (Corporate Debtor).

The petition was e-filed on 09.01.2026.

The petition sought initiation of CIRP due to default in payment of operational debt amounting to INR 1,96,42,797.44.

The first date of default is stated to be 05.01.2025.

The Operational Creditor is a partnership firm engaged in the business of trading wastepaper.

The Corporate Debtor is a Private Limited Company engaged in the business of manufacturing finished kraft paper.

The Operational Creditor supplied wastepaper to the Corporate Debtor from 05.12.2024 to 31.12.2024.

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## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor is within the prescribed period of …

**Ratio:** An application for initiation of CIRP under Section 9 of the IBC must be filed within the

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**Reasoning:** The petition was e-filed on 09.01.2026. The first date of default, as per Form-5, is

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**Interpretation:** The Tribunal interprets the 'date of default' as the starting point for

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**Application:** The present petition is found to be filed well within the prescribed period of

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Valufocus Eco-…
- **Respondents:** Devkiran Paper…
- **Other parties:** Murali…; R.H. Sreenivasa…; +1 more
- **Advocates:** Annapo…

## Timeline

- **2024-12-05 — Start of Wastepaper…**: Valufocus Eco-Revive Packaging began supplying wastepaper to Devkiran Paper Mills Private…
- **2024-12-11 — Part Payment by…**: Devkiran Paper Mills Private Limited made a part payment of INR 4,14,416/- against…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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