# In the matter of ANR International Pvt. Ltd. IB-1623(ND)-2019

> NCLT judgment dated 2021-04-19. Citation: TCN-2021-NCLT-02346. The case involves a petition filed by M/s Emgreen Impex Ltd. (Operational Creditor) under…

- **Court:** NCLT
- **Order date:** 19 Apr 2021
- **Citation:** TCN-2021-NCLT-02346
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/anr-international-pvt-ltd-ib-1623nd-2019-69a52804

## Summary

### Background

The case involves a petition filed by M/s Emgreen Impex Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s ANR International Pvt. Ltd. (Corporate Debtor) for an alleged default in settling an amount of Rs. 1,12,99,101/- along with interest of Rs. 33,76,950/-. The Operational Creditor claims that the Corporate Debtor failed to make the demanded payment despite the service of a demand notice. The Corporate Debtor, on the other hand, disputes the claim, asserting that the Operational Creditor owes them Rs. 85,066/- based on a running account and reciprocal demands.

## Facts

M/s Emgreen Impex Ltd. (Operational Creditor) filed a petition to initiate CIRP against M/s ANR International Pvt. Ltd. (Corporate Debtor) due to an alleged default of Rs. 1,12,99,101/- plus interest of Rs. 33,76,950/-. The Operational Creditor claimed to have supplied goods to the Corporate Debtor, with transactions occurring in the financial years 2016-17 and 2017-18. The Corporate Debtor confirmed the statement of accounts via email. Despite assurances and a demand notice, the Corporate Debtor failed to make the payment. The Corporate Debtor disputed the claim, stating that the Operational Creditor owed them Rs. 85,066/- based on a running account. The Corporate Debtor alleged that the Operational Creditor suppressed facts and that the debt was non-existent. The

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## Issues and analysis

### Issue 1: Whether the Operational Creditor has adequately demonstrated the existence of a debt and default on …

**Ratio:** The legal principle applied is that under Section 9 of the Insolvency and Bankruptcy

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**Reasoning:** The Tribunal reasoned that the Operational Creditor had provided sufficient evidence to

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**Interpretation:** The interpretation of Section 9 involves determining whether the operational

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**Application:** In this case, the Tribunal applied the ratio to the facts by examining the

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## Parties

- **Judges:** P.S.N. P…; V.K. SUB…
- **Appellants:** M/s. Emgreen…
- **Respondents:** M/s. Anr.…

## Timeline

- **2016-01-01 — Financial Year…**: Transactions between the Operational Creditor and Corporate Debtor occurred during this…
- **2017-01-01 — Financial Year…**: Transactions between the Operational Creditor and Corporate Debtor occurred during this…

## 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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