# In the matter of Juggilal Kamlpat Jute Mills Company Limited CP (IB) No. 10-ALD-2017

> NCLT judgment dated 2018-04-10. Citation: TCN-2018-NCLT-01566. The case involves a petition filed by M/s Surendra Trading Company, an operational creditor,…

- **Court:** NCLT
- **Order date:** 10 Apr 2018
- **Citation:** TCN-2018-NCLT-01566
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/juggilal-kamlpat-jute-mills-company-limited-cp-ib-no-10-ald-2017-a95d7f3d

## Summary

### Background

The case involves a petition filed by M/s Surendra Trading Company, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Juggilal Kamlpat Jute Mills Company Limited, the corporate debtor. The operational creditor claimed that goods worth Rs. 17,06,766/- were sold and delivered to the corporate debtor, and this debt was outstanding as of 31.03.2004. The corporate debtor raised objections, stating that the claim was based on invoices from 2001-2004, the company was registered with BIFR, the claim was barred by limitation, and the invoices were not valid as they lacked proper signatures and letterheads.

## Facts

M/s Surendra Trading Company (operational creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Juggilal Kamlpat Jute Mills Company Limited (corporate debtor). The operational creditor claimed that goods worth Rs. 17,06,766/- were sold and delivered to the corporate debtor, with the debt outstanding as of 31.03.2004. The operational creditor submitted invoices and a certificate of debt to support the claim. The corporate debtor objected to the petition, arguing that the claim was based on invoices from 2001-2004, the company was registered with BIFR, the claim was barred by limitation, and the invoices were not valid as they lacked proper signatures and letterheads.

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## Issues and analysis

### Issue 1: Whether the validity of Margin Bills/Invoices against which alleged amount is claimed to trigger …

**Ratio:** The operational creditor must furnish a copy of the invoice demanding payment or demand

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**Reasoning:** The court found that the invoices submitted by the operational creditor were not on the

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**Interpretation:** The court interpreted Section 9(3)(a) of the IBC to require that the invoices

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**Application:** In this case, the court found that the invoices submitted by the operational

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## Parties

- **Judges:** Ch. V.P.…; Ms Saroj R…
- **Appellants:** M/s Surendra…
- **Respondents:** M/s Juggilal…

## Timeline

- **2004-03-31 — Outstandin…**: Operational creditor claims debt…
- **2017-01-06 — Demand N…**: Demand notice issued to…

## 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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