# In the matter of Narshing Vinimay Private Limited CP(IB) No. 301-KB-2018

> NCLT judgment dated 2019-12-02. Citation: TCN-2019-NCLT-00370. The case involves an application filed by Bijoy Kumar Sarda, the Operational Creditor, under…

- **Court:** NCLT
- **Order date:** 2 Dec 2019
- **Citation:** TCN-2019-NCLT-00370
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/narshing-vinimay-private-limited-cpib-no-301-kb-2018-2c9d91e6

## Summary

### Background

The case involves an application filed by Bijoy Kumar Sarda, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Narshing Vinimay Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor alleged that the Corporate Debtor defaulted in payment of Rs. 3,34,137/- for goods delivered. The Corporate Debtor had placed orders for Knitted Hosiery Fabrics in September 2014, and the Operational Creditor supplied the goods. The Corporate Debtor made partial payments, but a balance remained outstanding.

## Facts

In September 2014, Narshing Vinimay Private Limited (Corporate Debtor) placed orders with Bijoy Kumar Sarda, M/s. Enterprise International (Operational Creditor), for Knitted Hosiery Fabrics. The Operational Creditor supplied the goods as per the Corporate Debtor's specifications. The Corporate Debtor received the goods without objection. The Operational Creditor raised invoices dated 22.09.2014 and 15.10.2014, totaling Rs. 12,12,522/-. The Corporate Debtor failed to make full payment within the agreed time but paid Rs. 8,78,385/- through several cheques, some of which were dishonored. The outstanding balance was Rs. 3,34,137/-. The Operational Creditor claimed interest at 18% per annum from 23.09.2014, amounting to Rs. 2,55,516.34. The Operational Creditor issued a

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## 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, allows an operational creditor to

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**Reasoning:** The court noted that the Operational Creditor had filed the application under Section 9,

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** The court found that the application was maintainable as the Operational

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## Parties

- **Judges:** Jinan…; Harish Chander…
- **Appellants:** Bijoy Kumar…
- **Respondents:** Narshing Vinimay…

## Timeline

- **2014-09-01 — Order Pla…**: The Corporate Debtor placed orders for Knitted Hosiery Fabrics with the Operational…
- **2014-09-22 — Invoice…**: Operational Creditor…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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