# In the matter of Pureshot Food & Beverages Pvt. Ltd. Company Petition No.(IB)313-ALD-2018

> NCLT judgment dated 2019-01-28. Citation: TCN-2019-NCLT-05139. M/s Ansh Contractors, claiming to be an Operational Creditor, filed a petition under Section 9…

- **Court:** NCLT
- **Order date:** 28 Jan 2019
- **Citation:** TCN-2019-NCLT-05139
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pureshot-food-beverages-pvt-ltd-company-petition-noib313-ald-2018-5fc1dd5e

## Summary

### Background

M/s Ansh Contractors, claiming to be an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rule, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Pureshot Food & Beverages Private Limited, the Corporate Debtor. The petitioner and respondent entered into a distribution agreement on 02.04.2018. The petitioner transferred Rs. 5,00,000 to the respondent's bank account for purchasing material. The petitioner placed two purchase orders on 04.04.2018, but the respondent failed to supply the material and also failed to refund the amount.

## Facts

M/s Ansh Contractors (Operational Creditor/Applicant) filed a petition against M/s Pureshot Food & Beverages Pvt. Ltd. (Corporate Debtor/Respondent) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner and respondent entered into a distribution agreement on 02.04.2018, where the respondent was to supply food and beverages to the petitioner. The petitioner transferred Rs. 5,00,000 to the respondent's bank account as advance for purchasing material. Two purchase orders were placed on 04.04.2018. The respondent failed to supply the material and also failed to refund the advance amount. The petitioner issued a demand notice on 20.07.2018, which was served to the respondent, but the respondent did not reply or repay the amount. The respondent

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## Issues and analysis

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

**Ratio:** The petition filed by the

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**Reasoning:** The Tribunal observed that the petition filed by the petitioner is complete in all

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**Interpretation:** The completeness of the petition is a prerequisite for its admission under the

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**Application:** The Tribunal found the petition to be complete, satisfying this requirement for

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## Parties

- **Judges:** Mr.Bikki Raveendra…; Saroj Ra…
- **Appellants:** M/s Ansh Contracto…
- **Respondents:** M/s Pureshot Food…

## Timeline

- **2018-04-02 — Distribution A…**: Petitioner and respondent entered…
- **2018-04-04 — Purchase…**: Petitioner placed two purchase orders for…

## 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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