# In the matter of Sarvottam Vegetable Oil Refinery Private Limited C.P. (IB) No. 89-9-NCLT-AHM-2018

> NCLT judgment dated 2018-08-07. Citation: TCN-2018-NCLT-00994. The document pertains to two applications, CP No. (IB) 89/9/NCLT/AHM/2018 filed by Adishwar…

- **Court:** NCLT
- **Order date:** 7 Aug 2018
- **Citation:** TCN-2018-NCLT-00994
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sarvottam-vegetable-oil-refinery-private-limited-cp-ib-no-89-9-nclt-ahm-2018-161dd6e8

## Summary

### Background

The document pertains to two applications, CP No. (IB) 89/9/NCLT/AHM/2018 filed by Adishwar Minerals & Chemicals and CP No. (IB) 163/9/NCLT/AHM/2018 filed by Itarsi Oils and Flours Private Limited, both operational creditors, against Sarvottam Vegetable Oil Refinery Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. Adishwar Minerals & Chemicals claimed an outstanding amount of Rs. 1,50,000/- plus interest, while Itarsi Oils and Flours Private Limited claimed Rs. 42,83,054.36 plus interest. Both applications sought to initiate Corporate Insolvency Resolution Process (CIRP) against Sarvottam Vegetable Oil Refinery Private Limited.

## Facts

Adishwar Minerals & Chemicals, an operational creditor, filed CP No. (IB) 89/9/NCLT/AHM/2018 against Sarvottam Vegetable Oil Refinery Private Limited, the corporate debtor, claiming an outstanding amount of Rs. 1,50,000/- plus interest, related to the supply of goods. Itarsi Oils and Flours Private Limited, another operational creditor, filed CP No. (IB) 163/9/NCLT/AHM/2018 against the same corporate debtor, claiming Rs. 42,83,054.36 plus interest, for the supply of Crude Soyabean Oil. Adishwar Minerals & Chemicals had supplied Fuller Earth Star to the respondent company. Itarsi Oils and Flours Private Limited supplied Crude Soyabean Oil on 23rd January 2018, delivered on 25th January 2018. The corporate debtor failed to file objections to either application.

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## Issues and analysis

### Issue 1: Whether the applications filed by the Operational Creditors are complete in all respects as per …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency

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**Reasoning:** The court found that the petitions filed by the Operational Creditors were complete in

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**Interpretation:** Section 9 of the IBC Code outlines the requirements for an operational creditor

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**Application:** The court applied the provisions of Section 9 and found that both Adishwar

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## Parties

- **Judges:** Manorama…
- **Appellants:** Adishwar Minerals…
- **Respondents:** Sarvottam…

## Timeline

- **2017-10-31 — Outstanding…**: As of this date, a sum of Rs. 1,50,000/- was outstanding and payable by the Corporate…
- **2018-01-20 — Demand Notice…**: Adishwar Minerals & Chemicals issued a Demand Notice under Section 8 of the Code read…

## 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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