# 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-01991. 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-01991
- **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-2019-88747baa

## 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 as the Petitioner and KVR Industries Pvt Ltd as 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 for satisfaction of its claims. The case is related to the Insolvency Resolution Process for Corporate Persons.

## Issues and analysis

### Issue 1: Whether the initiation of CIRP against the Respondent Company, KVR Industries Pvt Ltd, was …

**Ratio:** The admission of TCP No. 111/9/AMR/TP/2019 serves as the legal basis for initiating CIRP.

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**Reasoning:** The Tribunal admitted TCP No. 111/9/AMR/TP/2019, indicating that the Respondent Company

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**Interpretation:** The admission of a petition under Section 9 of the IBC signifies that a default

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**Application:** In this case, the Tribunal's admission of TCP No. 111/9/AMR/TP/2019 against KVR

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## Parties

- **Judges:** Janab Mohammed…
- **Respondents:** KVR Industries…

## Timeline

- **2020-02-12 — Hearing…**: Hearing held on February…
- **2020-02-12 — Order Da…**: Bench admitted TCP No. 111/9/AMR/TP/2019 directing initiation of CIRP of the Respondent…

## 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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