# In the matter of J. R. Agro Industries Pvt. Ltd. CP No. (IB) 13-ALD-2017

> NCLT judgment dated 2017-06-01. Citation: TCN-2017-NCLT-00831. The present case involves a company petition where the order is being pronounced in respect of…

- **Court:** NCLT
- **Order date:** 1 Jun 2017
- **Citation:** TCN-2017-NCLT-00831
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/j-r-agro-industries-pvt-ltd-cp-no-ib-13-ald-2017-a473c7c1

## Summary

### Background

The present case involves a company petition where the order is being pronounced in respect of multiple C.P. Nos. (13, 14, 15, 16, and 17 of 2017). These petitions are based on similar facts and are being disposed of through a common order. The applications were found complete under Section 9(5)(2) of the Insolvency and Bankruptcy Code. The corporate debtor is in default of making payments to operational creditors despite invoices raised and goods delivered. A Memorandum of Understanding (MOU) was entered between the corporate debtor and Mr. Dinesh Arora, but the bench views that there is no privity of contract between the operational creditors and Mr. Dinesh Arora regarding the MOU.

## Facts

J.R. Agro Industries Pvt Ltd is the corporate debtor. Multiple company petitions (C.P. Nos. 13, 14, 15, 16, and 17 of 2017) were filed against the corporate debtor by operational creditors for non-payment of dues. The operational creditors had raised invoices for payment, and goods were delivered to the corporate debtor. The corporate debtor company is in default of making payments of the debts in respect of C.P. No. 13 of 2017, M/s J.R. Agro Industries Private Limited for Rs. 5,08,43,252/-, in C.P. No. 14 of 2017 to M/s Abhi Agro Industries Private Limited for Rs. 28,59,514/-, in C.P. No. 15 of 2017 to the M/s Jai Lakshmi Solvents Private Limited for Rs. 24,66,392/-, in C.P. No. 16 of 2017 to M/s Arohul Foods Private Limited for Rs. 24,75,178/- and in C.P. No. 17 of

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## Issues and analysis

### Issue 1: Whether the applications are complete in terms of Section 9(5)(2) of the Insolvency and Bankruptcy …

**Ratio:** Section 9(5)(2) of the Insolvency and Bankruptcy Code outlines the requirements for an

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**Reasoning:** The court observed that the applications were found complete in terms of Section 9(5)(2)

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**Interpretation:** Section 9(5)(2) of the IBC sets out the criteria for accepting an application

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**Application:** The court applied this ratio by examining the applications and determining that

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## Parties

- **Judges:** Harihar Prakash…
- **Respondents:** J.R. Agro…

## Timeline

- **2017-06-01 — Order Da…**: Order pronounced by the Allahabad Bench…
- **2016-05-19 — MOU Date…**: Date of the Memorandum of Understanding…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 62 — Appeal to Supreme Court](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-62)

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