# In the matter of Jain MFG (India) Private Limited Company Petition No. (IB)-422-ALD-2018

> NCLT judgment dated 2019-02-22. Citation: TCN-2019-NCLT-04724. Vikas Tiwari, an operational creditor, filed a petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 22 Feb 2019
- **Citation:** TCN-2019-NCLT-04724
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jain-mfg-india-private-limited-company-petition-no-ib-422-ald-2018-840f9537

## Summary

### Background

Vikas Tiwari, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Jain Manufacturing India Pvt. Ltd., the corporate debtor. The petition stems from an agreement between the parties where Vikas Tiwari was to arrange for the supply of cosmetic goods manufactured by M/s Jain Manufacturing India Pvt. Ltd. on a commission basis. The petitioner claims that the corporate debtor defaulted on payments for services rendered in supplying and arranging for the dispatch of manufactured products.

## Facts

Vikas Tiwari, the petitioner, is an operational creditor. M/s Jain Manufacturing India Pvt. Ltd., the respondent, is the corporate debtor. An agreement dated 01.08.2017 existed between the parties, where Vikas Tiwari would arrange for the supply of cosmetic goods manufactured by M/s Jain Manufacturing India Pvt. Ltd. on a commission basis. Vikas Tiwari was to book orders, arrange for dispatch, and collect payments on behalf of the corporate debtor. The corporate debtor was to pay a commission of Rs. 130 per case to Vikas Tiwari. Vikas Tiwari raised invoices, and the corporate debtor was to make payments within 30 days. Late payments would attract interest at 15%. The petitioner claimed Rs. 4,27,960/- was due from the respondent, with the date of default commencing from

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## Issues and analysis

### Issue 1: Whether the petition filed by the …

**Ratio:** The Insolvency and Bankruptcy Code, 2016, and related rules require that a petition for

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**Reasoning:** The court noted that the petition was complete in all respects and that even in the reply

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**Interpretation:** The completeness of the petition is a prerequisite for its admissibility,

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**Application:** In this case, the court found the petition to be complete, as the respondent

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## Parties

- **Judges:** BIKKI RAVEENDRA…; Saroj Ra…
- **Appellants:** Vikas T…
- **Respondents:** M/s Jain Manufactu…

## Timeline

- **2017-08-01 — Agreement…**: Agreement between Vikas Tiwari and M/s Jain Manufacturing India Pvt. Ltd. for supply of…
- **2017-04-01 — Default Commencement…**: According to the petitioner,…

## 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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