# In the matter of Matashree Snacks Private Limited C.P. (IB) No. 1077-KB-2019

> NCLT judgment dated 2020-01-02. Citation: TCN-2020-NCLT-02565. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 2 Jan 2020
- **Citation:** TCN-2020-NCLT-02565
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/matashree-snacks-private-limited-cp-ib-no-1077-kb-2019-ffe0c31c

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Arihant Techno Pack Private Limited (Operational Creditor) against Matashree Snacks Private Limited (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for packaging films supplied between January 2016 and July 2016. After reconciliation, the Operational Creditor claimed an outstanding amount of Rs. 46,41,122 as of October 11, 2016. Despite repeated requests, the Corporate Debtor failed to make the payments and issued two dishonored cheques in October 2017. The Corporate Debtor acknowledged the debt via email in December 2017, citing financial

…

## Facts

Arihant Techno Pack Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 against Matashree Snacks Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor supplied packaging films to the Corporate Debtor from January 2016 to July 2016. As of October 11, 2016, the Corporate Debtor owed Rs. 46,41,122 to the Operational Creditor. The Corporate Debtor issued two cheques dated October 10, 2017 (Rs. 10,00,000) and October 25, 2017 (Rs. 14,76,178) which were dishonored. The Corporate Debtor acknowledged the debt in an email dated December 7, 2017, citing financial difficulties due to demonetization and GST. The Operational Creditor filed

…

## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency

…

**Reasoning:** The court examined the application and accompanying documents, including invoices,

…

**Interpretation:** The completeness of the application is a prerequisite for its maintainability.

…

**Application:** The court found that the Operational Creditor had provided all the necessary

…

## Parties

- **Judges:** Jinan…; Harish Chander…
- **Appellants:** Arihant Techno…
- **Respondents:** Matashree Snacks…

## Timeline

- **2016-01-01 — Supply of Packaging…**: Arihant Techno Pack Private Limited supplied packaging films to Matashree Snacks Private…
- **2016-10-11 — Outstanding…**: As of October 11, 2016, Matashree Snacks Private Limited owed Rs. 46,41,122 to Arihant…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 3(12) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-3)

---

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/matashree-snacks-private-limited-cp-ib-no-1077-kb-2019-ffe0c31c