# In the matter of Kalika Press Pvt. Ltd. CP (IB) No. 251-KB-2018

> NCLT judgment dated 2018-09-14. Citation: TCN-2018-NCLT-00755. The case involves an application filed by Sudarshan Paper & Board Private Limited (Operational…

- **Court:** NCLT
- **Order date:** 14 Sept 2018
- **Citation:** TCN-2018-NCLT-00755
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kalika-press-pvt-ltd-cp-ib-no-251-kb-2018-75c61917

## Summary

### Background

The case involves an application filed by Sudarshan Paper & Board Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Kalika Press Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor failed to pay an outstanding amount of Rs. 49,98,871/- despite the issuance of a demand notice. The Corporate Debtor contested the application, alleging mathematical errors in the calculation of the outstanding balance and disputing the amount due.

## Facts

Sudarshan Paper & Board Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Kalika Press Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed an outstanding amount of Rs. 49,98,871/-. The debt arose from the supply of raw materials by the Operational Creditor to the Corporate Debtor, supported by invoices. The Operational Creditor issued a demand notice on 21-12-2017, which was served on the Corporate Debtor on 22-12-2017. The Corporate Debtor failed to pay the amount demanded or raise any dispute within 10 days of receiving the notice. The Corporate Debtor contended that there were mathematical errors in the calculation

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency & …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016 allows an operational creditor to

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**Reasoning:** The court found that the Operational Creditor had supplied raw materials to the Corporate

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** The court applied Section 9 to the facts of the case and found that the

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## Parties

- **Judges:** Jinan…
- **Appellants:** SUDARSHAN PAPER &…
- **Respondents:** Kalika Press…

## Timeline

- **2016-08-25 — Start of Invoi…**: The Operational Creditor started generating invoices for the supply of papers to the…
- **2016-10-03 — End of Invoic…**: The Operational Creditor ended the period for generating invoices for the supply of…

## 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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