# In the matter of Saiswaram Tradelinks Pvt. Ltd. C.P. No. (IB) 18-9-NCLT-AHM-2019

> NCLT judgment dated 2020-03-13. Citation: TCN-2020-NCLT-01541. The case involves an application filed by Pucar Traders, an operational creditor, against…

- **Court:** NCLT
- **Order date:** 13 Mar 2020
- **Citation:** TCN-2020-NCLT-01541
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/saiswaram-tradelinks-pvt-ltd-cp-no-ib-18-9-nclt-ahm-2019-9dabbca7

## Summary

### Background

The case involves an application filed by Pucar Traders, an operational creditor, against Saiswaram Tradelinks Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. Pucar Traders claimed that Saiswaram Tradelinks owed them money for raw materials supplied between 2016 and 2018. A cheque issued by the corporate debtor was dishonored due to insufficient funds. The operational creditor issued a statutory notice under the Negotiable Instruments Act, but the corporate debtor failed to clear the dues, leading to the application before the NCLT.

## Facts

Pucar Traders, a partnership firm engaged in paper manufacturing and raw material supply, filed an application against Saiswaram Tradelinks Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. Pucar Traders claimed that Saiswaram Tradelinks owed Rs. 70,68,544.00 as of 31.08.2018 for raw materials supplied between 2016 and 2018. A cheque for Rs. 49,76,257.00 issued by Saiswaram Tradelinks on 14.02.2018 was dishonored due to insufficient funds. Pucar Traders issued a statutory notice on 09.03.2018 under the Negotiable Instruments Act. Saiswaram Tradelinks raised objections, stating a pre-existing dispute regarding the quality and quantity of goods. Saiswaram Tradelinks provided email communication from 11.01.2017, rejecting the material due to

…

## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor, Pucar Traders, under Section 9 of the …

**Ratio:** An application under Section 9 of the Insolvency and Bankruptcy Code, 2016, is not

…

**Reasoning:** The NCLT reasoned that the records showed a pre-existing dispute between Pucar Traders

…

**Interpretation:** The interpretation of Section 9 of the Insolvency and Bankruptcy Code, 2016,

…

**Application:** In this case, the NCLT applied the ratio to the facts and found that there was

…

## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** Pucar Tr…
- **Respondents:** Saiswaram…

## Timeline

- **2016-01-01 — Corporate Debtor…**: Saiswaram Tradelinks approached Pucar…
- **2016-01-01 — Material Suppl…**: Pucar Traders supplied raw materials to…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/saiswaram-tradelinks-pvt-ltd-cp-no-ib-18-9-nclt-ahm-2019-9dabbca7