# In the matter of Akshar Moulds Pvt. Ltd. C.P. (IB) No. 278-9-NCLT-AHM-2019

> NCLT judgment dated 2019-05-03. Citation: TCN-2019-NCLT-03496. The document is an attendance-cum-order sheet from the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 3 May 2019
- **Citation:** TCN-2019-NCLT-03496
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/akshar-moulds-pvt-ltd-cp-ib-no-278-9-nclt-ahm-2019-44d09354

## Summary

### Background

The document is an attendance-cum-order sheet from the National Company Law Tribunal (NCLT), Ahmedabad Bench, regarding C.P. (I.B) No. 278/9/NCLT/AHM/2019. The case involves Ishta Industries Pvt. Ltd. as the applicant and Akshar Moulds Pvt. Ltd. The application is filed under Section 9 of the Insolvency and Bankruptcy Code.

## Facts

Ishta Industries Pvt. Ltd. filed an application against Akshar Moulds Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code. The case was heard by the Ahmedabad Bench of the National Company Law Tribunal on May 3, 2019. The matter was listed for admissibility/limitation of the petition on July 3, 2019. Shainang D. Mehra was present.

## Issues and analysis

### Issue 1: Whether the petition filed by Ishta Industries Pvt. Ltd. against Akshar Moulds Pvt. Ltd. is …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code allows an operational creditor to

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**Reasoning:** The court needs to determine if the operational debt exists, if a demand notice was

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**Interpretation:** Section 9 provides the framework for operational creditors to initiate

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**Application:** The court will examine the application by Ishta Industries Pvt. Ltd. to ensure

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## Parties

- **Judges:** Harihar Prakash…
- **Appellants:** Ishta Industries…
- **Respondents:** Akshar Moulds…

## Timeline

- **2019-05-03 — Hearing…**: Hearing of the case before the…
- **2019-07-03 — Next Hearin…**: Matter listed for…

## 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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