# In the matter of Sai Krupa Packaging Private Limited IBA-153-2020

> NCLT judgment dated 2021-03-10. Citation: TCN-2021-NCLT-02741. The case involves an application filed by M/s. Sangeetha Traders Chennai Private Limited…

- **Court:** NCLT
- **Order date:** 10 Mar 2021
- **Citation:** TCN-2021-NCLT-02741
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sai-krupa-packaging-private-limited-iba-153-2020-69df37b0

## Summary

### Background

The case involves an application filed by M/s. Sangeetha Traders Chennai Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against M/s. Sai Krupa Packaging Private Limited (Corporate Debtor). The Operational Creditor claimed a sum of Rs.35,86,098/- as operational debt against invoices raised between 26.12.2014 and 29.07.2016. The application was filed on 29.11.2019.

## Facts

M/s. Sangeetha Traders Chennai Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Sai Krupa Packaging Private Limited (Corporate Debtor) for a default of Rs.35,86,098/-. The debt arose from unpaid invoices for the supply of Kraft Paper between 26.12.2014 and 29.07.2016. The Operational Creditor issued a legal notice on 18.12.2017, to which the Corporate Debtor replied on 21.12.2017, acknowledging a debt of Rs.33,23,921/- but disputing the total amount claimed. A demand notice in Form 3 was issued on 10.09.2019 and received by the Corporate Debtor on 09.10.2019. The application was filed on 29.11.2019. The Corporate Debtor did not appear before the Tribunal. The Tribunal considered the

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## Issues and analysis

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

**Ratio:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a corporate

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**Reasoning:** The Tribunal found that the Operational Creditor had proved the existence of an

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

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**Application:** The Tribunal applied Section 9 to the facts, finding that the Operational

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## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Respondents:** M/s. Sai Krupa…

## Timeline

- **2014-12-26 — First Invoi…**: The first invoice raised by the Operational…
- **2016-07-29 — Last Invoic…**: The last invoice raised by the Operational…

## 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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