# In the matter of KVR Industries Pvt. Ltd. TCP No. 109-9-AMR-TP-2019 {CP(IB)No. 404-9-HDB-2019}

> NCLT judgment dated 2020-02-12. Citation: TCN-2020-NCLT-01985. The case involves a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC). The…

- **Court:** NCLT
- **Order date:** 12 Feb 2020
- **Citation:** TCN-2020-NCLT-01985
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kvr-industries-pvt-ltd-tcp-no-109-9-amr-tp-2019-cpibno-404-9-hdb-2019-0888dcb7

## Summary

### Background

The case involves a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC). The National Company Law Tribunal (NCLT), Amaravathi Bench, heard the matter on February 12, 2020. TCP No. 111/9/AMR/TP/2019 was admitted, directing the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Respondent Company.

## Facts

The case involves Chevuri Enterprises, the Petitioner, and KVR Industries Pvt Ltd, the Respondent. The petition was filed under Section 9 of the IBC. TCP No. 111/9/AMR/TP/2019 was admitted by the Tribunal on February 12, 2020, directing the initiation of CIRP against KVR Industries Pvt Ltd. The Petitioner, Chevuri Enterprises, is directed to approach the IRP under Regulation 7 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016 for satisfaction of its claims. The Company Petition is disposed of by the Tribunal.

## Issues and analysis

### Issue 1: Whether the Tribunal was correct in admitting TCP No. 111/9/AMR/TP/2019, directing the initiation …

**Ratio:** The Tribunal has the authority to admit a petition under Section 9 of the IBC if the

…

**Reasoning:** The Tribunal admitted TCP No. 111/9/AMR/TP/2019, indicating that it found sufficient

…

**Interpretation:** The admission of TCP No. 111/9/AMR/TP/2019 signifies that the Tribunal found

…

**Application:** In this case, the Tribunal's decision to admit TCP No. 111/9/AMR/TP/2019 means

…

## Parties

- **Judges:** Janab Mohammed…
- **Appellants:** Chevuri Enterprise…
- **Respondents:** KVR Industries…
- **Advocates:** K.KI…; M. Ramana…; +2 more

## Timeline

- **2020-02-12 — Hearing…**: Hearing held on February…
- **2020-02-12 — Admission of TCP No.…**: Tribunal admitted TCP No. 111/9/AMR/TP/2019, directing initiation of CIRP of 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/kvr-industries-pvt-ltd-tcp-no-109-9-amr-tp-2019-cpibno-404-9-hdb-2019-0888dcb7