# In the matter of R P Basmati Rice Limited CP(IB) No. 223-Chd-Hry-2018

> NCLT judgment dated 2018-11-16. Citation: TCN-2018-NCLT-00324. The case involves an application filed by Shri Amit Kansal, proprietor of M/s. Amar Nath &…

- **Court:** NCLT
- **Order date:** 16 Nov 2018
- **Citation:** TCN-2018-NCLT-00324
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/r-p-basmati-rice-limited-cpib-no-223-chd-hry-2018-54963afb

## Summary

### Background

The case involves an application filed by Shri Amit Kansal, proprietor of M/s. Amar Nath & Sons, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. R P Basmati Rice Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in making payments for the supply of paddy. The corporate debtor was incorporated on 31.08.2001. The petitioner is a commission agent dealing in the sale and purchase of paddy, while the respondent is a Rice Mill and manufactures rice and allied products. In 2014, the respondent approached the petitioner for the supply of paddy, and the petitioner supplied paddy vide four invoices dated 12.10.2014, 16.10.2014 (two), and 17.10.2014, amounting to ₹4,06,492/-.

…

## Facts

Shri Amit Kansal, proprietor of M/s. Amar Nath & Sons, filed a petition against M/s. R P Basmati Rice Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming unpaid operational debt. The corporate debtor, M/s. R P Basmati Rice Limited, was incorporated on 31.08.2001. The petitioner is a commission agent dealing in the sale and purchase of paddy, while the respondent is a Rice Mill and manufactures rice and allied products. In 2014, the respondent approached the petitioner for the supply of paddy, and the petitioner supplied paddy vide four invoices dated 12.10.2014, 16.10.2014 (two), and 17.10.2014, amounting to ₹4,06,492/-. The respondent also purchased paddy through the petitioner as a commission agent to the tune of ₹20,61,271/-, for which

…

## Issues and analysis

### Issue 1: Whether the requirements of Section 9 of the Insolvency and Bankruptcy Code, 2016, have been …

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

…

**Reasoning:** The court observed that the petitioner had submitted the necessary documents, including

…

**Interpretation:** Section 9 of the IBC is interpreted to provide a mechanism for operational

…

**Application:** In this case, the petitioner, being the operational creditor, fulfilled the

…

## Parties

- **Judges:** R.P.Nag…; Pradeep R.…
- **Appellants:** Amit Ka…
- **Respondents:** M/s. R P Basmati…

## Timeline

- **2001-08-31 — Incorporation of…**: M/s. R P Basmati Rice…
- **2014-10-01 — Commencement of…**: Transactions between the…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/r-p-basmati-rice-limited-cpib-no-223-chd-hry-2018-54963afb