# In the matter of Om Printing & Flexible Packaging Private Ltd. C.P. 4403-I&BP-2018

> NCLT judgment dated 2019-02-20. Citation: TCN-2019-NCLT-04744. Vicky Enterprises filed an Insolvency and Bankruptcy Petition against Om Printing & Flexible…

- **Court:** NCLT
- **Order date:** 20 Feb 2019
- **Citation:** TCN-2019-NCLT-04744
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/om-printing-flexible-packaging-private-ltd-cp-4403-ibp-2018-6defd562

## Summary

### Background

Vicky Enterprises filed an Insolvency and Bankruptcy Petition against Om Printing & Flexible Packaging Private Ltd., seeking to invoke the Corporate Insolvency Resolution process under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed due to the Corporate Debtor's default in making payments to the extent of ₹25,74,835/-. The Petitioner claimed that invoices were raised against the Corporate Debtor for ₹25,74,835/-, which remained unpaid. A demand notice was issued on 2018-10-05, but the Corporate Debtor failed to reply or pay the amount.

## Facts

Vicky Enterprises (Petitioner) filed an insolvency petition against Om Printing & Flexible Packaging Private Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The basis for the petition was the Corporate Debtor's failure to pay ₹25,74,835/- against invoices raised by the Petitioner. The Petitioner issued a demand notice on 2018-10-05, seeking the outstanding amount along with interest at 18%. The Corporate Debtor did not respond to the notice and failed to pay the due amount. The Corporate Debtor admitted the debt and default. The Petitioner did not press for interest on the outstanding amount.

## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor is in compliance with the provisions of …

**Ratio:** Section 8 & 9 of the Insolvency and Bankruptcy Code outlines the requirements for

…

**Reasoning:** The Bench was satisfied that the application filed by the Operational Creditor complied

…

**Interpretation:** Sections 8 and 9 of the IBC lay down the procedure and conditions for an

…

**Application:** The court applied the provisions of Section 8 & 9 of the IBC to the facts

…

## Parties

- **Judges:** Bhaskara Pantula…; V. Nallasen…
- **Appellants:** Vicky Enter…
- **Respondents:** Om Printing &…

## Timeline

- **2018-10-05 — Demand Notice…**: Vicky Enterprises issued a demand notice to Om Printing & Flexible Packaging Private Ltd.…
- **2019-02-20 — Order Del…**: The NCLT admitted the insolvency…

## 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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