# In the matter of Al-Noor Agro & Farm Products Pvt. Ltd. CP(IB) 3659 & 3660 (MB)-2018

> NCLT judgment dated 2019-05-30. Citation: TCN-2019-NCLT-03138. Real Soya Enterprises, an Operational Creditor, filed a company petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 30 May 2019
- **Citation:** TCN-2019-NCLT-03138
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/al-noor-agro-farm-products-pvt-ltd-cpib-3659-3660-mb-2018-5a062605

## Summary

### Background

Real Soya Enterprises, an Operational Creditor, filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) against Al-Noor Agro & Farm Products Pvt Ltd, the Corporate Debtor, for defaulting on payments totaling ₹89,30,045/- (₹73,04,261/- principal and ₹16,25,784 towards interest) against invoices. The date of default was stated as 21.7.2017, but considered as 26.1.2018 due to a last payment made on 25.1.2018. The Operational Creditor supplied 'Animal Feed Supplements, Poultry Feed Supplements, Oil Poultry Feed Grade and Soya Lecithin' to the Corporate Debtor, raising 12 tax invoices from 16.3.2017 to 15.6.2017, totaling ₹76,28,215. The Corporate Debtor made a part payment of ₹5,00,000 on 25.1.2018, which was apportioned

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## Facts

Real Soya Enterprises (Operational Creditor) filed a petition against Al-Noor Agro & Farm Products Pvt Ltd (Corporate Debtor) under Section 9 of the I&B Code, 2016, claiming a default of ₹89,30,045/- (₹73,04,261/- principal and ₹16,25,784/- interest). The default stemmed from unpaid invoices for 'Animal Feed Supplements, Poultry Feed Supplements, Oil Poultry Feed Grade and Soya Lecithin' supplied between 16.3.2017 and 15.6.2017, totaling ₹76,28,215. A part payment of ₹5,00,000 was made on 25.1.2018. The Operational Creditor issued a demand notice on 18.8.2018. The Corporate Debtor, in a reply dated 1.4.2019, requested time for repayment, referencing an email from 14.8.2017. The Corporate Debtor also submitted an undertaking dated 16.11.2018, admitting the debt

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the I&B Code, 2016 is complete and the corporate …

**Ratio:** Section 9 of the I&B Code allows an operational creditor to initiate CIRP against a

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**Reasoning:** The NCLT observed that the application under sub-section (2) of Section 9 of I&B

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**Interpretation:** Section 9 of the I&B Code requires the operational creditor to demonstrate

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**Application:** The NCLT found that the Operational Creditor had demonstrated a debt exceeding

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## Parties

- **Judges:** V. P. S…; Ravikumar…; +1 more
- **Appellants:** Real Soya…
- **Respondents:** Al-Noor Agro &…
- **Advocates:** Rachit La…; Shreyas S.…

## Timeline

- **2017-03-16 — First Invoi…**: First tax invoice issued by the…
- **2017-06-15 — Last Invoic…**: Last tax invoice issued by the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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