# In the matter of ANV Techfab Pvt. Ltd. C.P. No. 2613-MB-2019

> NCLT judgment dated 2021-08-04. Citation: TCN-2021-NCLT-01476. The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 4 Aug 2021
- **Citation:** TCN-2021-NCLT-01476
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/anv-techfab-pvt-ltd-cp-no-2613-mb-2019-a65570f9

## Summary

### Background

The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Mr. Mahesh Goyal, Proprietor of M/s. Gulab Fibres (Operational Creditor) against M/s ANV Techfab Pvt. Ltd (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor had previously filed a Company Petition (179/2018) for a debt of Rs. 8,27,779/-. Subsequently, both parties filed consent terms where the Corporate Debtor agreed to pay Rs. 7,00,000/- and issued a cheque. The cheque was dishonored due to insufficient funds. The Corporate Debtor made a partial payment of Rs. 1,00,000/- after the dishonor. The Operational Creditor issued a notice demanding the remaining Rs. 6,00,000/-, but the Corporate Debtor failed to pay.

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## Facts

Mr. Mahesh Goyal, proprietor of M/s Gulab Fibres, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s ANV Techfab Pvt. Ltd. The Operational Creditor had previously filed Company Petition No. 179/2018 for a debt of Rs. 8,27,779/-. Consent terms were filed, with the Corporate Debtor agreeing to pay Rs. 7,00,000/- and issuing a cheque. The cheque was dishonored due to 'Funds Insufficient'. The Corporate Debtor paid Rs. 1,00,000/- after the dishonor. A notice was issued demanding Rs. 6,00,000/-, but the Corporate Debtor failed to pay. A second notice was issued, and the Corporate Debtor admitted liability but failed to make the payment. The matter was listed multiple times since August 2019, with the Corporate Debtor's director

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## Issues and analysis

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

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

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**Reasoning:** The court reasoned that the Operational Creditor had demonstrated the existence of a debt

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

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**Application:** The court applied Section 9 to the facts, finding that the Operational Creditor

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## Parties

- **Judges:** H.V. Subb…; Chandra Bha…
- **Appellants:** Mahesh…
- **Respondents:** ANV Techfab Pvt…; Anaveer…
- **Advocates:** Shivangi…

## Timeline

- **2018-05-03 — Consent Term…**: Petitioner and Corporate Debtor filed consent terms before the Bench, with the Corporate…
- **2018-05-11 — Cheque I…**: Corporate Debtor issued a cheque…

## 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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