# In the matter of Richa Industries LImited CP (IB) No. 294-Chd-Hry-2018

> NCLT judgment dated 2019-07-19. Citation: TCN-2019-NCLT-02425. The case involves CP (IB) No. 294/Chd/Hry/2018 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 19 Jul 2019
- **Citation:** TCN-2019-NCLT-02425
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/richa-industries-limited-cp-ib-no-294-chd-hry-2018-a80c9acb

## Summary

### Background

The case involves CP (IB) No. 294/Chd/Hry/2018 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. Radhika Carriers LLP, the operational creditor, filed the petition against Richa Industries Limited, the corporate debtor. However, CIRP proceedings had already commenced against Richa Industries Ltd. under CP (IB) No. 80/Chd/Hry/2018.

## Facts

Radhika Carriers LLP, an operational creditor, filed CP (IB) No. 294/Chd/Hry/2018 against Richa Industries Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. Prior to this petition, CIRP proceedings had already been initiated against Richa Industries Limited under CP (IB) No. 80/Chd/Hry/2018. The court noted the existing CIRP proceedings and their impact on the current petition.

## Issues and analysis

### Issue 1: Whether the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, is redundant when …

**Ratio:** When CIRP proceedings have already commenced against a corporate debtor, any subsequent

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**Reasoning:** The court reasoned that since CIRP proceedings were already underway against Richa

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**Interpretation:** The interpretation is that the initiation of CIRP under one application

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**Application:** In this case, since CIRP proceedings were already commenced against Richa

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## Parties

- **Judges:** M.K. Sh…; Pradeep R.…
- **Appellants:** M/s Radhika…
- **Respondents:** Richa Industries…

## Timeline

- **2018-01-01 — CIRP Commen…**: CIRP proceedings commenced against Richa Industries Ltd. under CP (IB) No.…
- **2018-01-01 — Petition…**: Radhika Carriers LLP filed CP (IB) No. 294/Chd/Hry/2018 against Richa Industries Limited…

## 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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