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

> NCLT judgment dated 2019-12-02. Citation: TCN-2019-NCLT-00375. The case involves an application filed by Bijoy Kumar Sarda, the Operational Creditor and sole…

- **Court:** NCLT
- **Order date:** 2 Dec 2019
- **Citation:** TCN-2019-NCLT-00375
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/narshing-vinimay-private-limited-cpib-no-301-kb-2018-e5f6f8c0

## Summary

### Background

The case involves an application filed by Bijoy Kumar Sarda, the Operational Creditor and sole proprietor of M/s. Enterprise International, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Narshing Vinimay Private Limited, the Corporate Debtor. The Operational Creditor alleged that the Corporate Debtor defaulted in payment of Rs. 3,34,137/- towards the outstanding operational debt for goods delivered.

## Facts

In September 2014, Narshing Vinimay Private Limited (Corporate Debtor) placed orders with 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 raising any objections regarding quantity or quality. The Corporate Debtor was to make payment within 90 days of receipt. 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 balance due was Rs. 3,34,137/-. The Operational Creditor claimed interest at 18% per annum

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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 found that the Operational Creditor had provided sufficient evidence, including

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**Interpretation:** Section 9 of the IBC provides a mechanism for operational creditors to recover

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**Application:** The court applied the provisions of Section 9 of the IBC to the facts of the

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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 upon the Operational Creditor for purchase of diverse…
- **2014-09-22 — Invoice…**: Operational Creditor raised…

## 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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