# In the matter of Ravi Commodities Private Limited C.P. (IB) No. 1549-KB-2018

> NCLT judgment dated 2020-01-17. Citation: TCN-2020-NCLT-02296. The case involves an application filed by Seaboard Special Crops India Private Limited…

- **Court:** NCLT
- **Order date:** 17 Jan 2020
- **Citation:** TCN-2020-NCLT-02296
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ravi-commodities-private-limited-cp-ib-no-1549-kb-2018-a63cc84c

## Summary

### Background

The case involves an application filed by Seaboard Special Crops India Private Limited (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Ravi Commodities Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied under three contracts. The Corporate Debtor contested the application, alleging that the Operational Creditor suppressed material facts and that there was a dispute regarding the quality of goods supplied. The Corporate Debtor also claimed a right to set off against dues from Seaboard USA, another company related to the Operational Creditor.

## Facts

Seaboard Special Crops India Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ravi Commodities Private Limited (Corporate Debtor). The application was based on alleged default in payment for goods supplied under three contracts dated January 17, 2018, January 22, 2018, and February 1, 2018. The Operational Creditor claimed that they had supplied Canadian whole red lentil crimson type in bags to the Corporate Debtor. The Corporate Debtor received the goods and invoices without objection but made only part payments, leaving a balance of Rs. 64,05,750/-. The Operational Creditor also claimed interest on the outstanding amount. The

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the Insolvency & …

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

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**Reasoning:** The court found that the Operational Creditor had complied with the requirements of

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**Interpretation:** Section 9 provides the mechanism for operational creditors to trigger the

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**Application:** The Operational Creditor demonstrated that a debt was due and that the

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## Parties

- **Judges:** Jinan…; Harish Chander…
- **Appellants:** Seaboard Special…
- **Respondents:** Ravi Commodities…; Ravi Commo…

## Timeline

- **2017-09-01 — Initial Ap…**: Seaboard Special Crops and Seaboard USA jointly approached Ravi Commodities for selling…
- **2017-11-20 — Arrival of Con…**: Officials from FSSAI visited the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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