# In the matter of Akash Pack Tech Private Limited Company Petition No. IB-1527-ND-2019

> NCLT judgment dated 2020-07-31. Citation: TCN-2020-NCLT-00920. The case pertains to an application filed by M/s. SMC Corporation (India) Pvt. Ltd., the…

- **Court:** NCLT
- **Order date:** 31 Jul 2020
- **Citation:** TCN-2020-NCLT-00920
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/akash-pack-tech-private-limited-company-petition-no-ib-1527-nd-2019-4d6da4ca

## Summary

### Background

The case pertains to an application filed by M/s. SMC Corporation (India) Pvt. Ltd., the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Akash Packtech Private Limited, the Corporate Debtor. The Operational Creditor claimed that it had delivered industrial materials to the Corporate Debtor based on twelve purchase orders, and despite repeated requests and reminders, the Corporate Debtor failed to pay the outstanding dues. A demand notice was issued on 18.03.2019, but the Corporate Debtor did not respond or raise any dispute. The application seeks to recover Rs. 10,74,239/- along with interest at 24% from the date the invoices fell due.

## Facts

M/s. SMC Corporation (India) Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Akash Packtech Private Limited (Corporate Debtor). The Operational Creditor claimed that it supplied industrial materials to the Corporate Debtor based on twelve purchase orders. Despite repeated requests and reminders, the Corporate Debtor failed to pay outstanding dues amounting to Rs. 10,74,239/- along with interest at 24% from the date the invoices fell due. A demand notice was sent on 18.03.2019 under Section 8 of the IBC, but the Corporate Debtor did not reply or raise any dispute. The demand notice was served twice at the registered address of the

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9(5) of the IBC states that the Adjudicating Authority shall, within fourteen

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**Reasoning:** The Tribunal was satisfied that the present application was complete and the Operational

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**Interpretation:** Section 9 of the IBC outlines the procedure for an operational creditor to

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**Application:** The Tribunal found that the Operational Creditor had provided sufficient

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## Parties

- **Judges:** DEEPTI M…; Sh. Hemant Kumar…
- **Appellants:** M/s SMC Corporatio…
- **Respondents:** M/s. AKASH…

## Timeline

- **2019-03-18 — Demand Notice…**: The Applicant sent a demand notice to the Respondent under Section 8 of the Insolvency…
- **2019-03-19 — Demand Notice…**: The demand notice was issued twice at the registered address of the CD on 19.03.2019 and…

## 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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