# In the matter of S. D. Heavy Sea Food Pvt. Ltd. CP (IB) No. 828-KB-2018

> NCLT judgment dated 2020-01-14. Citation: TCN-2020-NCLT-02352. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 14 Jan 2020
- **Citation:** TCN-2020-NCLT-02352
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/s-d-heavy-sea-food-pvt-ltd-cp-ib-no-828-kb-2018-67281204

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The application was initiated by a proprietary firm. The operational creditor sought permission to withdraw the application.

## Facts

The operational creditor, M/s. Popular Plastics & Packaging Industries, filed an application against the corporate debtor, M/s. S.D. Heavy Sea Food Pvt. Ltd., under Section 9 of the IBC. The application was initiated by a proprietary firm. The Ld. Counsel for the operational creditor sought permission to withdraw the application with the liberty to file afresh. The court noted that the notice under Section 8 and the application under Section 9 of the IBC were initiated by a proprietary firm, which is not a judicial person, in view of Section 3(23) of the IBC.

## Issues and analysis

### Issue 1: Whether a proprietary firm can …

**Ratio:** A proprietary firm is not a judicial

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**Reasoning:** The court observed that both the notice under Section 8 and the application under Section

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**Interpretation:** Section 3(23) of the IBC defines who can initiate CIRP. The interpretation is

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**Application:** Since the application was initiated by a proprietary firm, which is not a

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** M/s. Popular…
- **Respondents:** M/s. S.D. Heavy…
- **Advocates:** Abhishek…

## Timeline

- **2020-01-14 — Hearing…**: Hearing held on January…

## 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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