# In the matter of Chirag White-Water & Amsuement Rides Pvt. Ltd. CP (IB) No.581-Chd-Pb-2019

> NCLT judgment dated 2022-05-31. Citation: TCN-2022-NCLT-04737. M/s Revex Plasticisers Pvt. Ltd. filed a petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 31 May 2022
- **Citation:** TCN-2022-NCLT-04737
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/chirag-white-water-amsuement-rides-pvt-ltd-cp-ib-no581-chd-pb-2019-73b2cd03

## Summary

### Background

M/s Revex Plasticisers Pvt. Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Chirag White Water & Amusement Rides Pvt. Ltd.

## Facts

M/s Revex Plasticisers Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of IBC against M/s Chirag White Water & Amusement Rides Pvt. Ltd. (Corporate Debtor).

The Operational Creditor supplied polyester resin to the Corporate Debtor, and invoices were raised.

The amount claimed to be in default is Rs.7,95,343/- excluding interest of Rs.86,797/-, with the default occurring on 04.01.2019.

A demand notice dated 16.08.2019 was sent to the Corporate Debtor by speed post on 20.08.2019.

The Corporate Debtor did not appear despite repeated service and was set ex parte.

The application was filed on 04.11.2019, and the Adjudicating Authority found it to be within limitation.

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## Issues and analysis

### Issue 1: Whether the demand notice in Form 3 …

**Ratio:** The petitioner provided a compliance affidavit with a tracking report indicating that the

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**Reasoning:** The Adjudicating Authority considered the

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**Interpretation:** Proper service of the demand notice is

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**Application:** The demand notice was deemed to be properly served based on the evidence

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** Revex Plasticisers…
- **Respondents:** Chirag White…
- **Other parties:** Deepak Th…

## Timeline

- **2019-01-04 — Date of D…**: The date on which the…
- **2019-08-16 — Demand N…**: Demand notice in Form 3…

## Legal provisions

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

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