# In the matter of Bansal Shipping Pvt Limited CP  (IB) No. 635-9-NCLT-AHM-2019

> NCLT judgment dated 2020-12-08. Citation: TCN-2020-NCLT-00126. The case pertains to an application filed under Section 9 of the Insolvency & Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 8 Dec 2020
- **Citation:** TCN-2020-NCLT-00126
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bansal-shipping-pvt-limited-cp-ib-no-635-9-nclt-ahm-2019-a3755c84

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, by the Operational Creditor, Mr. Himanshubhai Pravinbhai Pandya, to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s. Bansal Shipping Private Limited. The outstanding principal sum is Rs. 5,25,000/-. The Operational Creditor provided labor work and raised Invoice No. 1 dated 30.10.2018, which remained unpaid. A notice under Section 8 along with requisite documentary evidence was served on the Corporate Debtor, which was acknowledged by the Corporate Debtor.

## Facts

Mr. Himanshubhai Pravinbhai Pandya, the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Bansal Shipping Private Limited, the Corporate Debtor. The outstanding principal sum was Rs. 5,25,000/-, related to unpaid labor work for which Invoice No. 1 dated 30.10.2018 was raised. A notice under Section 8 of the IBC was served on the Corporate Debtor, and the debt was acknowledged. The Corporate Debtor did not dispute the amount due but stated that the company was not in business and unable to make the payment. The application was deemed complete and defect-free. The Operational Creditor proposed the name of an IRP. The Corporate Debtor did not

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency & Bankruptcy Code, 2016, should be …

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

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**Reasoning:** The Adjudicating Authority reasoned that the Corporate Debtor had admitted the debt, the

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

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**Application:** The Adjudicating Authority applied the provisions of Section 9 to the facts of

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** Himanshubhai…
- **Respondents:** M/s. Bansal…

## Timeline

- **2018-10-30 — Invoice…**: Invoice No. 1 was raised for the sum of…
- **2020-12-07 — Order Res…**: Order reserved on…

## 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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