# 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-00317. 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-00317
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/r-p-basmati-rice-limited-cpib-no-223-chd-hry-2018-ca1de42f

## 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 manufacturing rice and allied products.

## 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 dues for the supply of paddy. M/s. Amar Nath & Sons is an operational creditor, and M/s. R P Basmati Rice Limited is the corporate debtor. The corporate debtor was incorporated on 31.08.2001. The operational creditor supplied paddy to the corporate debtor in 2014, evidenced by four invoices amounting to ₹4,06,492/-. The corporate debtor defaulted on payments. Besides direct supply, the operational creditor also acted as a commission agent for the corporate debtor's paddy purchases, amounting to ₹20,61,271/-, for which payment was made. However, payments for four bills dated

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## Issues and analysis

### Issue 1: Whether the petition filed by the operational creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016 allows an operational creditor to

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**Reasoning:** The court considered the documents and submissions made by the operational creditor,

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** The court found that the operational creditor had met the requirements of

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## 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…
- **2014-01-01 — Supply of…**: The petitioner supplied paddy to…

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