# In the matter of Janardhan Industries Limited Company Petition (IB)No.82-ALD-2019

> NCLT judgment dated 2019-08-28. Citation: TCN-2019-NCLT-01705. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 28 Aug 2019
- **Citation:** TCN-2019-NCLT-01705
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/janardhan-industries-limited-company-petition-ibno82-ald-2019-bc215fcc

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Blosil Labtech Private Limited, an operational creditor, against Janardhan Industries Limited, the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted on payments for materials supplied in 2015 and 2016. The Adjudicating Authority noted that the corporate debtor did not contest the matter despite sufficient notice.

## Facts

Blosil Labtech Private Limited (the operational creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Janardhan Industries Limited (the corporate debtor). Blosil Labtech claimed that Janardhan Industries defaulted on a payment of Rs. 66,69,297/- for materials (Veneer) supplied in 2015 and 2016. A demand notice was issued on 27.11.2018. Janardhan Industries did not reply to the demand notice or contest the application. The operational creditor submitted documents including invoices and bank statements. The corporate debtor's authorized share capital is Rs. 3,00,00,000/- and paid-up share capital is Rs. 2,90,84,500/-. The corporate debtor changed its name on 21.03.2016. The date of default is 27.11.2018.

## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, outlines the requirements for an

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**Reasoning:** The Adjudicating Authority perused the documents annexed with the petition and found that

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**Interpretation:** Section 9 of the IBC requires the operational creditor to demonstrate that a

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**Application:** The Adjudicating Authority found that the operational creditor had submitted

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## Parties

- **Judges:** Sh. Abni Ranjan…
- **Appellants:** Blosil Labtech…
- **Respondents:** Janardhan…

## Timeline

- **2009-06-26 — Incorporation of Blosil…**: Blosil Labtech Pvt Ltd…
- **1985-09-16 — Incorporation of…**: Janardhan Industries Limited…

## 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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