# In the matter of Sanwaria Consumer Ltd. (MP) CP(IB)No. 7-9-NCLT-AHM-2019

> NCLT judgment dated 2020-05-29. Citation: TCN-2020-NCLT-01280. The case involves a petition filed by Mr. Kishor Ramniklal Unadkat, the sole proprietor of M/s.…

- **Court:** NCLT
- **Order date:** 29 May 2020
- **Citation:** TCN-2020-NCLT-01280
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sanwaria-consumer-ltd-mp-cpibno-7-9-nclt-ahm-2019-661033a9

## Summary

### Background

The case involves a petition filed by Mr. Kishor Ramniklal Unadkat, the sole proprietor of M/s. Shakti Clearing Agency, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Sanwaria Consumer Limited (formerly known as M/s. Sanwaria Agro Limited), the Corporate Debtor. The Operational Creditor claims that the Corporate Debtor defaulted on payments for services provided since 2009.

## Facts

Mr. Kishor Ramniklal Unadkat, the sole proprietor of M/s. Shakti Clearing Agency (Operational Creditor), filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sanwaria Consumer Limited (Corporate Debtor). The Corporate Debtor was incorporated on 22.04.1991. The Operational Creditor has been providing clearing and forwarding services to the Corporate Debtor since 2009. The Corporate Debtor stopped making payments after March 2019. The total outstanding debt is Rs. 1,53,31,016.00 along with interest at 18%. The Operational Creditor sent a demand notice on 16.09.2019, which was received by the Corporate Debtor on 24.09.2019. The Corporate Debtor admitted the debt and requested

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, is complete …

**Ratio:** The ratio is based on Section 9 of the Insolvency and Bankruptcy Code, 2016, which

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**Reasoning:** The Adjudicating Authority examined the merits and admissibility of the IB Petition under

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**Interpretation:** Section 9 of the IBC allows an operational creditor to initiate CIRP if the

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**Application:** In this case, the application was found to be complete, the Corporate Debtor

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## Parties

- **Judges:** Harihar Prakash…; Prasanta Kumar…
- **Appellants:** Kishor Ramniklal…
- **Respondents:** Sanwaria Consumer…

## Timeline

- **1991-04-22 — Incorporation of…**: M/s. Sanwaria Consumer Limited was…
- **2009-01-01 — Business Relationship…**: The Operational Creditor and the Corporate…

## 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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