# In the matter of Angstrom Biotech Pvt. Ltd. CP (IB) No. 171-9-NCLT-AHM-2020

> NCLT judgment dated 2021-03-15. Citation: TCN-2021-NCLT-02708. The case pertains to an application filed by the Operational Creditor, M/s. EDGE Biotech Pvt.…

- **Court:** NCLT
- **Order date:** 15 Mar 2021
- **Citation:** TCN-2021-NCLT-02708
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/angstrom-biotech-pvt-ltd-cp-ib-no-171-9-nclt-ahm-2020-75686802

## Summary

### Background

The case pertains to an application filed by the Operational Creditor, M/s. EDGE Biotech Pvt. Ltd., under Section 9 of the Insolvency & Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s Angstrom Biotech Pvt. Ltd., due to a default amount of Rs. 2,54,506/-. The Operational Creditor claimed that the Corporate Debtor failed to make payment for goods supplied, leading to the dishonoring of a cheque issued for part payment.

## Facts

M/s. EDGE Biotech Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Angstrom Biotech Pvt. Ltd. (Corporate Debtor). The claim arose from the Corporate Debtor's failure to pay Rs. 2,54,506/- for diagnostic rapid test cassette and other medical disposable packing products supplied by the Operational Creditor. The Corporate Debtor issued a cheque of Rs. 2,00,000/- dated 13.11.2019, which was dishonored with the remark 'Payment Stopped By Drawer'. The Operational Creditor issued a demand notice on 05.12.2019. The demand notice was delivered to the Corporate Debtor on 17.07.2020 at its current address, but the Corporate Debtor did not

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## Issues and analysis

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

**Ratio:** Section 9 of the Insolvency & Bankruptcy Code, 2016, allows an operational creditor

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**Reasoning:** The Adjudicating Authority considered the documents and submissions made by the

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** The Operational Creditor fulfilled the requirements of Section 9 by

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** EDGE Biotech Pvt.…
- **Respondents:** Angstrom Biotech…

## Timeline

- **2019-05-09 — Date of D…**: The date of default is…
- **2019-11-13 — Cheque Issu…**: Corporate Debtor issued a cheque of Rs. 2,00,000/- vide Cheque No. 024396 dated…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14(1) — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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