# In the matter of Balaji Paper and Newsprint Pvt. Ltd. CP(IB) No. 301-KB-2017

> NCLT judgment dated 2018-11-26. Citation: TCN-2018-NCLT-00292. The case involves Shaw Traders versus Balaji Paper and Newsprint Pvt. Ltd. The Operational…

- **Court:** NCLT
- **Order date:** 26 Nov 2018
- **Citation:** TCN-2018-NCLT-00292
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/balaji-paper-and-newsprint-pvt-ltd-cpib-no-301-kb-2017-99e32483

## Summary

### Background

The case involves Shaw Traders versus Balaji Paper and Newsprint Pvt. Ltd. The Operational Creditor, Shaw Traders, initiated a Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Balaji Paper and Newsprint Pvt. Ltd. under Section 9 of the IBC. Notice was served to the Operational Creditor, but nobody appeared on their behalf.

## Facts

Shaw Traders (Operational Creditor) filed a Corporate Insolvency Petition against Balaji Paper and Newsprint Pvt. Ltd. (Corporate Debtor) under Section 9 of the IBC. The hearing was held on November 26, 2018. Notice was served to the Operational Creditor, but no one appeared on their behalf. The Corporate Debtor's counsel stated that the matter had been settled between the parties and the Operational Creditor was not inclined to proceed. A copy of the settlement agreement was presented to the court. The Operational Creditor did not appear despite being issued a notice.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Petition should be dismissed due to the Operational Creditor's …

**Ratio:** When an Operational Creditor fails to appear despite due notice and the Corporate Debtor

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**Reasoning:** The court reasoned that since the Operational Creditor did not appear despite being

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**Interpretation:** This interpretation suggests that the court prioritizes the resolution of

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**Application:** In this case, the Operational Creditor's absence and the Corporate Debtor's

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## Parties

- **Judges:** Jinan…
- **Appellants:** Shaw Tr…
- **Respondents:** Balaji Paper and…

## Timeline

- **2018-11-26 — Hearing…**: Hearing held on November…
- **N/A — Settlement Su…**: Corporate Debtor's counsel submits that the…

## 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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