# In the matter of Krushna Cotex Private LImited CP (IB) 4510-MB-C-IV-2018

> NCLT judgment dated 2019-11-21. Citation: TCN-2019-NCLT-00508. The case involves a petition filed by Arihant Packers, an operational creditor, under Section 9…

- **Court:** NCLT
- **Order date:** 21 Nov 2019
- **Citation:** TCN-2019-NCLT-00508
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/krushna-cotex-private-limited-cp-ib-4510-mb-c-iv-2018-e6d8889b

## Summary

### Background

The case involves a petition filed by Arihant Packers, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Krushna Cotex Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor failed to make payments for goods supplied, leading to a default exceeding the minimum threshold specified under the IBC. The petition was filed before the National Company Law Tribunal (NCLT), Mumbai Bench.

## Facts

Arihant Packers, a Hindu Undivided Family (HUF) represented by its Karta, Mr. Vijay Tatiya, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC), against Krushna Cotex Private Limited, the Corporate Debtor. Krushna Cotex Private Limited was incorporated on 30.03.2007 under the Companies Act, 1956. Arihant Packers supplied Paper Corrugated Box, Folders, Ply Plain Pasted Cartons etc. to Krushna Cotex Private Limited. The Corporate Debtor failed to make payment of Rs. 4,39,963.00 for invoices raised between 18.11.2016 and 26.12.2016. The Operational Creditor served a Demand Notice in Form 3 dated 17.07.2018, delivered on 23.07.2018. The Corporate Debtor made partial payments of Rs. 2,00,000/- on 24.07.2018 and Rs. 2,00,000/- on

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## Issues and analysis

### Issue 1: Whether the application made by the Operational Creditor is complete in all respects as required by …

**Ratio:** Section 9 of the IBC and related rules specify the requirements for an application to

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**Reasoning:** The Adjudicating Authority examined the application and found it to be complete in all

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**Interpretation:** The completeness of the application is a prerequisite for its admission under

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**Application:** The application included all necessary documents and information as required by

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## Parties

- **Judges:** Rajasekha…; Ravikumar…; +1 more
- **Appellants:** Arihant P…
- **Respondents:** Krushna Cotex…

## Timeline

- **2007-03-30 — Incorporation of…**: Krushna Cotex Private Limited was…
- **2016-09-21 — Invoice Perio…**: Start date for the period during which invoices…

## 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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