# 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-03491. 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-03491
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/akshar-moulds-pvt-ltd-cp-ib-no-278-9-nclt-ahm-2019-47cd6598

## 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 a petition 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 (NCLT) on May 3, 2019. The purpose of the hearing was to determine the admissibility and limitation of the petition. The petitioner, Ishta Industries Pvt. Ltd., was represented by its counsel.

## 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 operational creditors to initiate

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**Reasoning:** The court needs to determine if Ishta Industries Pvt. Ltd. qualifies as an operational

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

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**Application:** The court will examine the documents and evidence presented by Ishta Industries

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## Parties

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

## Timeline

- **2019-05-03 — Hearing…**: Hearing of the Ahmedabad Bench of…
- **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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