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

> NCLT judgment dated 2019-07-19. Citation: TCN-2019-NCLT-02419. The case pertains to 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-02419
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/richa-industries-limited-cp-ib-no-294-chd-hry-2018-aa8f71f4

## Summary

### Background

The case pertains to 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. in 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. The petition was filed because of an outstanding debt. However, 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 that the existence of the prior CIRP proceedings made the current petition redundant.

## Issues and analysis

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

**Ratio:** A petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, becomes redundant

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**Reasoning:** The court reasoned that initiating multiple CIRP proceedings against the same corporate

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**Interpretation:** The interpretation is that the Insolvency and Bankruptcy Code aims to

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

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## Parties

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

## Timeline

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

## 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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