# In the matter of Karuturi Foods Private Limited CP (IB) No. 28-BB-17

> NCLT judgment dated 2017-10-10. Citation: TCN-2017-NCLT-00300. The case involves a company petition filed by an operational creditor, M/s Sunrise Enterprises,…

- **Court:** NCLT
- **Order date:** 10 Oct 2017
- **Citation:** TCN-2017-NCLT-00300
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/karuturi-foods-private-limited-cp-ib-no-28-bb-17-1a90923f

## Summary

### Background

The case involves a company petition filed by an operational creditor, M/s Sunrise Enterprises, against the corporate debtor, M/s Karuturi Foods Private Limited, for defaulting on a payment of Rs. 8,48,749 along with interest. The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor provided services to the corporate debtor based on an agreement for the supply of manpower. The corporate debtor had already paid Rs. 10,46,565 out of the total value of services provided, which was Rs. 18,58,640. A statutory notice under Section 8 of the Code was issued to the corporate debtor on March 7, 2017, to repay the outstanding amount.

## Facts

M/s Sunrise Enterprises, an operational creditor, filed a company petition against M/s Karuturi Foods Private Limited, the corporate debtor, due to a default in payment of Rs. 8,48,749 along with interest. The debt arose from services provided by the operational creditor to the corporate debtor under an agreement for the supply of manpower. The total value of services was Rs. 18,58,640, out of which the corporate debtor had paid Rs. 10,46,565. A statutory notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, was issued to the corporate debtor on March 7, 2017, to repay the outstanding amount. The notice was returned undelivered. The operational creditor nominated Mr. Pankaj Srivastava as the Interim Resolution Professional, who expressed his willingness

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## Issues and analysis

### Issue 1: Whether the petition filed by the operational creditor, M/s Sunrise Enterprises, against the …

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

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**Reasoning:** The Tribunal considered the evidence presented by the operational creditor, including the

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

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**Application:** In this case, the operational creditor, M/s Sunrise Enterprises, demonstrated

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## Parties

- **Judges:** Ratakonda…
- **Appellants:** Shri.H.S.Sh…
- **Respondents:** M/s Karuturi…
- **Advocates:** H.S.Shaf…

## Timeline

- **2017-03-07 — Statutory Noti…**: Operational creditor issued a statutory notice under Section 8 of the Code to the…
- **2017-06-22 — Hearing…**: Hearing on the…

## 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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