# In the matter of Pasupati Flexipack Private Limited CP (IB) No.3775-MB-C-IV-2019

> NCLT judgment dated 2020-04-28. Citation: TCN-2020-NCLT-01397. The case pertains to a Company Petition filed under Section 9 of the Insolvency & Bankruptcy…

- **Court:** NCLT
- **Order date:** 28 Apr 2020
- **Citation:** TCN-2020-NCLT-01397
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pasupati-flexipack-private-limited-cp-ib-no3775-mb-c-iv-2019-8b148b8b

## Summary

### Background

The case pertains to a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 by J.J. Plastalloy Private Limited (Operational Creditor) against Pasupati Flexipack Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor failed to make payment of a sum of ₹2,82,244.00 as principal and ₹28,771.00 as interest.

## Facts

J.J. Plastalloy Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Pasupati Flexipack Private Limited (Corporate Debtor) to initiate CIRP. The Corporate Debtor is a private company incorporated on 31.05.2016. The Operational Creditor supplied White Master Batch and Additive Master Batch to the Corporate Debtor under eight invoices based on purchase orders received by email. The total amount due was ₹3,89,329.00. The Corporate Debtor made payments totaling ₹1,07,085.00, leaving a balance of ₹2,82,244.00 as principal. The Operational Creditor also claimed interest of ₹28,771.00. A demand notice was served on the Corporate Debtor on 19.04.2019, which was duly delivered on 20.05.2019. The Corporate

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## Issues and analysis

### Issue 1: Whether the application made by the Operational Creditor is complete in all respects as required by …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, outlines the requirements for an

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**Reasoning:** The Adjudicating Authority determined that the application filed by the Operational

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**Interpretation:** The completeness of the application is a prerequisite for the Adjudicating

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**Application:** The application contained all the necessary details, including invoices, demand

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** J. J. Plastalloy…
- **Respondents:** Pasupati Flexipack…

## Timeline

- **2016-05-31 — Incorporation of…**: Pasupati Flexipack Private…
- **2018-05-25 — Invoice D…**: Invoice DG-414 for ₹1,02,660.00…

## 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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