# In the matter of Adarsh Global Traders & Services Pvt. Ltd. CP(IB) No. 350-9-HDB-2019

> NCLT judgment dated 2019-08-22. Citation: TCN-2019-NCLT-01843. Vedika Steels Private Limited filed an application under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 22 Aug 2019
- **Citation:** TCN-2019-NCLT-01843
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/adarsh-global-traders-services-pvt-ltd-cpib-no-350-9-hdb-2019-c00d8cef

## Summary

### Background

Vedika Steels Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Adarsh Global Trades & Services Pvt Ltd for a claim of Rs. 8,98,91,694. Notices were sent to the respondent on multiple occasions, and a notice was also published in the paper. The respondent was set as ex-parte.

## Facts

Vedika Steels Private Limited (Operational Creditor) filed an application under Section 9 of the IBC, 2016, against Adarsh Global Trades & Services Pvt Ltd (Corporate Debtor) for a claim of Rs. 8,98,91,694. Notices were sent to the Corporate Debtor, who was later set as ex-parte. Vedika Steels only provided a Ledger A/c Statement from its own books as evidence. The Adjudicating Authority noted that Vedika Steels failed to provide invoices, purchase orders, or any acknowledgment of debt from Adarsh Global. A separate application (IA No. 323/2019) was pending, alleging fraudulent transactions involving both Vedika Steels and Adarsh Global.

## Issues and analysis

### Issue 1: Whether the Operational Creditor furnished sufficient evidence to prove the existence of an …

**Ratio:** The Operational Creditor must provide sufficient evidence, including invoices, purchase

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**Reasoning:** The court found that the Operational Creditor only relied on its own ledger account

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**Interpretation:** The IBC requires the Operational Creditor to provide concrete evidence to

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**Application:** In this case, the Operational Creditor's failure to provide invoices, purchase

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## Parties

- **Judges:** K. Anantha…; BINOD KUMAR…
- **Appellants:** Vedika Steels Pvt…
- **Respondents:** Adarsh Global…

## Timeline

- **2019-06-03 — Notice to Res…**: Notice sent to the…
- **2019-06-25 — Notice to Res…**: Notice sent to the…

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