# In the matter of Pandhari Milk Private Limited CP (IB) 2139-MB-C-IV-2019

> NCLT judgment dated 2019-09-03. Citation: TCN-2019-NCLT-01592. M/s Pawar Milk Suppliers, an operational creditor, filed a petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 3 Sept 2019
- **Citation:** TCN-2019-NCLT-01592
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pandhari-milk-private-limited-cp-ib-2139-mb-c-iv-2019-74c3f247

## Summary

### Background

M/s Pawar Milk Suppliers, an operational creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Pandhari Milk Private Limited, the corporate debtor, for failing to pay outstanding dues. The operational creditor claimed that the corporate debtor defaulted on a payment of Rs. 33,00,000 as principal and Rs. 3,90,576 as interest as of 31.07.2018. The operational creditor had supplied milk to the corporate debtor on various dates, with the last bill of supply dated 30.11.2018. The corporate debtor acknowledged the debt in a letter dated 31.01.2019 and in an affidavit dated 21.08.2019, seeking time for payment, but cited unfavorable market conditions affecting

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## Facts

M/s Pawar Milk Suppliers, the operational creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Pandhari Milk Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on a payment of Rs. 33,00,000 as principal and Rs. 3,90,576 as interest as of 31.07.2018, totaling Rs. 36,90,576. The operational creditor had supplied milk to the corporate debtor on various dates, with the last bill of supply dated 30.11.2018, amounting to Rs. 86,80,288. Partial payments of Rs. 42,79,250 were made between 04.01.2019 and 22.01.2019, leaving a remaining debt of Rs. 44,01,038. The corporate debtor acknowledged the debt in a letter

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the IBC is complete …

**Ratio:** Section 9 of the IBC read with Rule 6 of the Insolvency & Bankruptcy (Application to

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**Reasoning:** The Adjudicating Authority found that the application made by the Operational Creditor

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**Interpretation:** This section of the IBC allows an operational creditor to initiate CIRP against

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**Application:** In this case, the Operational Creditor provided evidence of the debt through

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** M/s Pawar Milk…
- **Respondents:** Pandhari Milk…

## Timeline

- **2014-06-19 — Incorporation of…**: Pandhari Milk Private Limited…
- **2018-07-31 — Date of D…**: The Corporate Debtor failed to make payment of Rs.33,00,000/- as principal amount and…

## 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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