# In the matter of Nikunj Wood Pvt. Ltd. (IB)-1286(ND)-2019

> NCLT judgment dated 2019-07-30. Citation: TCN-2019-NCLT-02215. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 30 Jul 2019
- **Citation:** TCN-2019-NCLT-02215
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nikunj-wood-pvt-ltd-ib-1286nd-2019-43122a33

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Lavis Signature Panel Pvt. Ltd. (Operational Creditor) against Nikunj Woods Pvt. Ltd. (Corporate Debtor) for its inability to pay outstanding dues. The Operational Creditor claimed that the Corporate Debtor failed to make payments despite repeated requests and reminders, leading to the issuance of a demand notice under Section 8 of the Code, which was not replied to.

## Facts

Lavis Signature Panel Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Nikunj Woods Pvt. Ltd. (Corporate Debtor) due to unpaid dues. The Operational Creditor is in the business of manufacturing and trading Veneer, Decorative Veneers, Door Skins, Plywood, Particle Boards, Pre-Laminated MDF, and Water-proof Plywood. The Corporate Debtor placed an order, and the Operational Creditor supplied goods vide invoices No. 044 & 060 dated 2017-08-01 and 2017-08-08 for Rs. 7,83,409 and Rs. 8,26,491 respectively. The Operational Creditor maintained a running account, and as per the ledger, a sum of Rs. 8,89,900 was due and payable, which the Operational Creditor claimed along with interest at 24% per annum.

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## Issues and analysis

### Issue 1: Whether the petition 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 considered the Operational Creditor's claim, the invoices for goods supplied,

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

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**Application:** Given the undisputed debt, the failure to pay despite repeated reminders, and

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## Parties

- **Judges:** Ina Mal…; SH. L. N.…
- **Appellants:** M/s. Lavis…
- **Respondents:** M/s. Nikunj Woods…

## Timeline

- **2017-08-01 — Invoice…**: Invoice No. 044 issued…
- **2017-08-08 — Invoice…**: Invoice No. 060 issued…

## 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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