# In the matter of Fairdeal Process Automation Pvt Ltd. CP(IB)-50(AHM)2022

> NCLT judgment dated 13 Sept 2022. Citation: TCN-2022-NCLT-01080. This case involves an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 13 Sept 2022
- **Citation:** TCN-2022-NCLT-01080
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/fairdeal-process-automation-pvt-ltd-cpib-50ahm2022-8985b743

## Summary

### Background

This case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Chiripal Poly Films Ltd, acting as an operational creditor, against Fairdeal Process Automation Pvt Ltd, the corporate debtor. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to an alleged default in payment of operational debt. The matter was brought before the National Company Law Tribunal (NCLT), Ahmedabad, Court-2, for adjudication.

## Facts

Chiripal Poly Films Ltd, identified as an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Fairdeal Process Automation Pvt Ltd, the corporate debtor. This application sought to initiate the Corporate Insolvency Resolution Process (CIRP) against Fairdeal Process Automation Pvt Ltd, alleging a default in payment of an operational debt. The matter was listed before the National Company Law Tribunal, Ahmedabad, Court-2, for hearing and adjudication.

## Issues and analysis

### Issue 1: Whether an application filed under Section 9 of the IBC can be withdrawn if the parties have…

**Ratio:** An application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, can be…

**Reasoning:** The NCLT's reasoning was based on the submission by the applicant's counsel that the…

**Interpretation:** The Tribunal interpreted the procedural flexibility within the IBC to allow for…

**Application:** In this specific case, the applicant's counsel informed the NCLT that Chiripal…

## Parties

- **Judges:** Dr.Deepti…; Ajai Das Me…
- **Advocates:** For the Applicant:…

## Timeline

- **September 13, 2022 — Order Del…**: The NCLT, Ahmedabad, delivered its order,…

## 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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