# In the matter of Forward Shoes India Pvt. Ltd.

> NCLT judgment dated 2017-06-19. Citation: TCN-2017-NCLT-00800. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 19 Jun 2017
- **Citation:** TCN-2017-NCLT-00800
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/forward-shoes-india-pvt-ltd-5abeadb7

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Brasher Boot Company Ltd (Operational Creditor) against Forward Shoes India Pvt Ltd (Corporate Debtor). The Operational Creditor claimed a default in payment of a debt decreed by the Court of Madras. The Corporate Debtor acknowledged the debt but sought time for payment, which was not fulfilled. The Operational Creditor filed an affidavit stating that they had not received any notice of dispute or appeal regarding the decree.

## Facts

Brasher Boot Company Ltd (Operational Creditor) filed an application against Forward Shoes India Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming default in payment of debt. The Operational Creditor had obtained a decree of GBP 48000 with 18% interest from December 8, 2014, from the Court of Madras. The Corporate Debtor acknowledged the debt and sought time for payment, but no payment was made. The Operational Creditor sent a communication on July 13, 2015, demanding the decretal amount, and the Corporate Debtor agreed to pay on July 28, 2015, with a condition to withdraw legal proceedings. The Operational Creditor filed an affidavit on June 16, 2017, stating that they had not received any notice of dispute or appeal

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## Issues and analysis

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

**Ratio:** The court has the power to admit an application under Section 9 of the Insolvency and

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**Reasoning:** The court considered the petition, the documents on record, and the submissions of the

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**Interpretation:** Section 9 of the Insolvency and Bankruptcy Code, 2016, allows an operational

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**Application:** The court found that the Operational Creditor had a valid decree and that the

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## Parties

- **Judges:** CH. MOHD SHARIEF…; S. VIJAYARA…
- **Appellants:** BRASHER BOOT…
- **Respondents:** Forward Shoes…

## Timeline

- **2014-12-08 — Decree Ob…**: The petitioner obtained a decree of GBP 48000…
- **2015-07-13 — Communicati…**: The Operational Creditor sent a…

## 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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