# In the matter of Dash Exports Private Limited Company Petition No. IB-1388-ND-2018

> NCLT judgment dated 2020-02-26. Citation: TCN-2020-NCLT-01800. M/S Rakesh Kumar Pardeep Kumar, an operational creditor, filed an application under Section 9…

- **Court:** NCLT
- **Order date:** 26 Feb 2020
- **Citation:** TCN-2020-NCLT-01800
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dash-exports-private-limited-company-petition-no-ib-1388-nd-2018-6906d45c

## Summary

### Background

M/S Rakesh Kumar Pardeep Kumar, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S Dash Export Private Limited, the corporate debtor. The applicant claimed that the corporate debtor had defaulted on payments for wheat supplied in 2016. The application was filed due to outstanding invoices from February 6, 2016, to November 8, 2016, for which no payment was made. The applicant claimed a total due of Rs 2,03,01,612/- including interest.

## Facts

M/S Rakesh Kumar Pardeep Kumar, a partnership firm, supplied wheat to M/S Dash Export Private Limited in the beginning of 2016, totaling Rs 1,44,83,316/-. Invoices were raised from 06.02.2016 to 08.11.2016, but no payments were made. The applicant sent confirmation of accounts for the period 01.04.2016 to 09.11.2016, which were received and acknowledged by the corporate debtor. A demand notice was issued on 10.09.2018 under Section 8 of the IBC for Rs. 2,03,01,612/-, including interest. The corporate debtor replied on 22.09.2018, admitting liability but claiming that the applicant's clients would send confirmation of accounts at the end of every financial year, which the client would sign with the bona fide belief and understanding that the balance claims of our client

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 is complete and …

**Ratio:** Section 9 of the IBC outlines the requirements for an operational creditor to initiate

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**Reasoning:** The court found that the application was complete as per the requirements of Section 9 of

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**Interpretation:** Section 9 requires the operational creditor to demonstrate that a debt is owed

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**Application:** The applicant provided invoices, confirmation of accounts, and a demand notice,

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## Parties

- **Judges:** DEEPTI M…; HEMANT KUMAR…
- **Appellants:** M/S RAKESH KUMAR…
- **Respondents:** M/S DASH EXPORT…

## Timeline

- **2016-01-01 — Corporate Debtor…**: The corporate debtor approached the applicant for the purchase of wheat in the beginning…
- **2016-02-06 — Invoices…**: Invoices were raised upon the corporate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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