# In the matter of VOI JEANS RETAIL INDIA PRIVATE LIMITED

> NCLT judgment dated 2026-03-09. Citation: TCN-2026-NCLT-00213. Raymond UCO Denim Pvt. Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 9 Mar 2026
- **Citation:** TCN-2026-NCLT-00213
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/voi-jeans-retail-india-private-limited-727ead30

## Summary

### Background

Raymond UCO Denim Pvt. Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against VOI Jeans Retail India Private Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP) due to unpaid dues.

## Facts

Raymond UCO Denim Pvt. Ltd. (Operational Creditor) filed a petition against VOI Jeans Retail India Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016.

The Corporate Debtor defaulted on payments amounting to Rs. 1,11,75,455/- as on 28.02.2024.

The Operational Creditor issued a demand notice dated 19.03.2025 under Section 8(1) in Form 3, which remained uncomplied.

The Corporate Debtor issued purchase orders to the Operational Creditor for receiving fabrics.

The Corporate Debtor made a part payment of Rs. 15,00,000 on 14.11.2024.

The petition was filed on 19.07.2025.

The date of default is 29.02.2024, calculated as 60 days from the first invoice bearing No. FD20244067 dated 31.12.2023.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted in payment of the outstanding amount to the Operational …

**Ratio:** The Corporate Debtor failed to pay the

…

**Reasoning:** The Adjudicating Authority observed that the Corporate Debtor had defaulted on payments

…

**Interpretation:** The default in payment of the outstanding amount constitutes a valid ground for

…

**Application:** The Adjudicating Authority admitted the petition and initiated CIRP against the

…

## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Raymond UCO Denim…; Raymond UCO Denim…
- **Respondents:** VOI Jeans Retail…; VOI Jeans Retail…
- **Other parties:** Ranjana…

## Timeline

- **19.03.2025 — Demand N…**: Demand Notice under Section 8(1) in Form 3 was issued to the respondent but remained…
- **28.02.2024 — Date of D…**: The Corporate Debtor has committed a default in payment of an outstanding amount of Rs.…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-bengaluru/voi-jeans-retail-india-private-limited-727ead30