# In the matter of  Nakoda Dairy Products Private Limited CP (IB) No. 221-9-AMR-2019

> NCLT judgment dated 2020-08-24. Citation: TCN-2020-NCLT-00796. The case involves a Company Petition filed by M/s. Nakoda Dairy Private Limited (Operational…

- **Court:** NCLT
- **Order date:** 24 Aug 2020
- **Citation:** TCN-2020-NCLT-00796
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nakoda-dairy-products-private-limited-cp-ib-no-221-9-amr-2019-1674f661

## Summary

### Background

The case involves a Company Petition filed by M/s. Nakoda Dairy Private Limited (Operational Creditor) against M/s. Panda Dairy Products Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for skimmed milk powder supplied as per a purchase order. The Corporate Debtor acknowledged the outstanding liability but failed to make complete payment.

## Facts

M/s. Nakoda Dairy Private Limited (Operational Creditor) filed a petition against M/s. Panda Dairy Products Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor placed a purchase order on 2019-04-23 for 8,000 kg of skimmed milk powder at INR 215 per kg + 5% GST, totaling INR 18,06,000. The Operational Creditor supplied the goods and raised an invoice for the same amount. The payment was due within 30 days of the invoice date. The Corporate Debtor paid part of the amount, leaving INR 11,40,000 outstanding. As of 2019-07-11, an additional INR 42,494 was due as interest at 18% per annum. The total outstanding amount was INR 11,82,494. The Corporate Debtor acknowledged the debt in a letter dated 2019-06-14,

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted in repaying the operational debt due to the Operational …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016 allows an operational creditor to

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**Reasoning:** The court relied on the purchase order, invoice, and the Corporate Debtor's admission of

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**Interpretation:** The court interpreted Section 9 of the IBC, 2016 to mean that if an operational

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**Application:** The court applied the ratio to the facts, noting that the Corporate Debtor had

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## Parties

- **Judges:** Bhaskara Pantula…
- **Appellants:** Nakoda Dairy Pvt…
- **Respondents:** Panda Dairy…

## Timeline

- **2019-04-23 — Purchase…**: Corporate Debtor placed a purchase…
- **2019-06-14 — Acknowledgemen…**: Corporate Debtor acknowledged the outstanding…

## 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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