# In the matter of Abhi Agro Industries Pvt. Ltd. CP No. (IB) 14-ALD-2017

> NCLT judgment dated 2017-06-01. Citation: TCN-2017-NCLT-00826. The present company (I & B) petition are fixed today for pronounced of the order in respect of…

- **Court:** NCLT
- **Order date:** 1 Jun 2017
- **Citation:** TCN-2017-NCLT-00826
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/abhi-agro-industries-pvt-ltd-cp-no-ib-14-ald-2017-3a6660c4

## Summary

### Background

The present company (I & B) petition are fixed today for pronounced of the order in respect of C.P. Nos. 13, 14, 15, 16 and 17 of 2017 as these petitions are based on same / similar nature of facts hence are being disposed of though a common order. The applications are found complete in terms of Section 9(5)(2) of the Insolvency and Bankruptcy Code. The operational creditors raised invoices for payment, and goods were delivered to the corporate debtor. The corporate debtor is in default of making payments.

## Facts

The present company (I & B) petition are fixed today for pronounced of the order in respect of C.P. Nos. 13, 14, 15, 16 and 17 of 2017 as these petitions are based on same / similar nature of facts hence are being disposed of though a common order. The applications are found complete in terms of Section 9(5)(2) of the Insolvency and Bankruptcy Code. The operational creditors raised invoices for payment, and goods were delivered to the corporate debtor. The corporate debtor is in default of making payments in respect of C.P. No. 13 of 2017, M/s J.R. Agro Industries Private Limited for Rs. 5,08,43,252/-, in C.P. No. 14 of 2017 to M/s Abhi Agro Industries Private Limited for Rs. 28,59,514/-, in C.P. No. 15 of 2017 to the M/s Jai Lakshmi Solvents Private Limited for

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## Issues and analysis

### Issue 1: Whether the applications are complete in terms of Section 9(5)(2) of the Insolvency and Bankruptcy …

**Ratio:** Section 9(5)(2) of the Insolvency and Bankruptcy Code requires that the application be

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**Reasoning:** The court observed and found that there is no repayment of unpaid operational debt

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**Interpretation:** Section 9(5)(2) of the Insolvency and Bankruptcy Code requires that the

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**Application:** The court found that the applications were complete because the operational

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## Parties

- **Judges:** Harihar Prakash…
- **Respondents:** Abhi Agro…

## Timeline

- **2017-06-01 — Hearing…**: Attendence-cum-order sheet of the hearing of Allahabad Bench of the National Company Law…
- **2017-04-12 — NCLT Kolkata…**: Larger Bench decision of the NCLT, Kolkata passed in C.P. No. 37 of 2017, ICICI Bank Ltd.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 62 — Appeal to Supreme Court](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-62)

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