# In the matter of Emerald Lands (India) Pvt. Ltd. IB-3405(ND)-2019

> NCLT judgment dated 2020-01-02. Citation: TCN-2020-NCLT-02570. The case involves a company petition filed under Section 9 of the IBC, 2016 by an Operational…

- **Court:** NCLT
- **Order date:** 2 Jan 2020
- **Citation:** TCN-2020-NCLT-02570
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/emerald-lands-india-pvt-ltd-ib-3405nd-2019-0bf07adb

## Summary

### Background

The case involves a company petition filed under Section 9 of the IBC, 2016 by an Operational Creditor, Surya Electro Controls, against the Corporate Debtor, Emerald Lands (India) Pvt. Ltd. The CIR process was initiated against the Corporate Debtor on 02.01.2020.

## Facts

Surya Electro Controls, the Operational Creditor, filed a company petition against Emerald Lands (India) Pvt. Ltd., the Corporate Debtor, under Section 9 of the IBC, 2016. The CIR process was initiated against Emerald Lands on 02.01.2020. The Operational Creditor is directed to file its claim with the Interim Resolution Professional (IRP). The Operational Creditor retains the right to revive the petition if a compromise is reached between the Corporate Debtor and other creditors, or if the order dated 02.01.2020 is set aside in appeal. The petition is disposed of, subject to the conditions mentioned.

## Issues and analysis

### Issue 1: Whether the Operational Creditor's petition under Section 9 of the IBC, 2016 is maintainable …

**Ratio:** Section 9 of the IBC, 2016 allows an operational creditor to initiate a corporate

…

**Reasoning:** The court considered the petition filed under Section 9 of IBC, indicating that the

…

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

…

**Application:** The court's direction to file a claim with the IRP suggests that the petition

…

## Parties

- **Judges:** Ch. Mohd Sharief…; K.K. V…
- **Appellants:** Surya Electro…
- **Respondents:** Emerald Lands…

## Timeline

- **2019-01-01 — Company Petiti…**: Company Petition (IB)-1466 /ND/2019…
- **2020-01-02 — CIR Process I…**: Corporate Insolvency Resolution Process (CIRP) initiated against Emerald Lands (India)…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/emerald-lands-india-pvt-ltd-ib-3405nd-2019-0bf07adb