# In the matter of Laksh Foods Private Limited Company Petition no. (IB)- 1181(ND)-2018

> NCLT judgment dated 2018-12-21. Citation: TCN-2018-NCLT-00024. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 21 Dec 2018
- **Citation:** TCN-2018-NCLT-00024
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/laksh-foods-private-limited-company-petition-no-ib-1181nd-2018-aa2c9c62

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Holy-Land Marketing Private Limited (the applicant) against Laksh Food Private Limited (the respondent), seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claimed to be an operational creditor of the respondent, alleging default in payment of dues for the supply of packaged perishable food products. The applicant contended that it had been supplying goods to the respondent since 2012 and had raised various invoices, with the last invoice issued on 28.07.2015. The respondent's last payment was made on 07.10.2015. Despite reminders, the respondent allegedly failed to make the due payment, leading to the issuance of a demand

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## Facts

Holy-Land Marketing Private Limited (Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Laksh Food Private Limited (Respondent). The applicant claimed to be an operational creditor, stating that it supplied packaged perishable food products to the respondent since 2012. The applicant issued its last invoice on 28.07.2015, and the respondent made its last payment on 07.10.2015. Despite reminders, the respondent failed to make the due payment of Rs. 6,05,800/-, leading the applicant to issue a demand notice under Section 8 of the Code on 19.03.2018. The respondent did not reply to the demand notice. The respondent did not appear despite being given an opportunity. The applicant is engaged in the business of providing

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## Issues and analysis

### Issue 1: Whether the applicant, Holy-Land Marketing Private Limited, qualifies as an 'Operational Creditor' …

**Ratio:** The legal principle applied is the definition of 'Operational Creditor' as defined under

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**Reasoning:** The court reasoned that the applicant supplied goods to the respondent company. This

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**Interpretation:** The term 'Operational Creditor' is interpreted broadly to include entities

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**Application:** The court applied this principle to the facts, finding that since Holy-Land

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## Parties

- **Judges:** Ina Mal…; DeepaKr…
- **Appellants:** Holy-Land…
- **Respondents:** Laksh Food…

## Timeline

- **2012-01-01 — Commencement o…**: Holy-Land Marketing Private Limited started…
- **2015-07-28 — Last Invoice…**: Holy-Land Marketing Private Limited issued its…

## 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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