# In the matter of Nexus Feeds Limited CP (IB) No. 501-9-HDB-2018

> NCLT judgment dated 2019-11-06. Citation: TCN-2019-NCLT-00703. The case originates from a petition filed by Haris Marine Products, an Operational Creditor,…

- **Court:** NCLT
- **Order date:** 6 Nov 2019
- **Citation:** TCN-2019-NCLT-00703
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nexus-feeds-limited-cp-ib-no-501-9-hdb-2018-ed123017

## Summary

### Background

The case originates from a petition filed by Haris Marine Products, an Operational Creditor, against Nexus Feeds Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, due to a default of Rs. 21,12,790. The Operational Creditor claimed that the Corporate Debtor failed to make payments for fish oil supplied since 2011, despite a decree obtained in a civil suit. The Corporate Debtor contested the petition, citing a pre-existing dispute and the non-service of summons in the civil suit. The NCLT considered the arguments and evidence presented by both parties.

## Facts

Haris Marine Products, the Operational Creditor, filed a petition against Nexus Feeds Limited, the Corporate Debtor, under Section 9 of the IBC, claiming a default of Rs. 21,12,790. The Operational Creditor supplied fish oil to the Corporate Debtor since 2011, and the Corporate Debtor made partial payments. The Operational Creditor obtained a decree in a civil suit (O.S. No. 149/2013) against the Corporate Debtor on 01.08.2016 for Rs. 20,27,799 with 12% interest from 03.10.2013. The Corporate Debtor failed to make the payment even after the decree was passed. The Operational Creditor issued a demand notice in form-3 on 03.07.2018, but the Corporate Debtor did not reply. The Corporate Debtor claimed that it could not contest the civil suit as summons were not served and

…

## Issues and analysis

### Issue 1: Whether the petition filed by the Operational …

**Ratio:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a corporate

…

**Reasoning:** The NCLT considered the arguments of both parties and the evidence presented. It noted

…

**Interpretation:** Section 9 of the IBC is interpreted to mean that if a decree has been obtained

…

**Application:** In this case, the Operational Creditor obtained a decree against the Corporate

…

## Parties

- **Judges:** Ratakonda…; Narender Kumar…; +1 more
- **Appellants:** Haris Marine…
- **Respondents:** Nexus Feeds…

## Timeline

- **2011-01-01 — Purchase…**: Numerous purchase orders were placed by Corporate Debtor with Operational Creditor for…
- **2012-04-05 — Delivery of F…**: Operational Creditor delivered two…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(6) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

---

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/nexus-feeds-limited-cp-ib-no-501-9-hdb-2018-ed123017