# In the matter of Satyalaxmi Tradelinks Private Limited C.P.(IB) No.317-KB-2017

> NCLT judgment dated 2018-05-07. Citation: TCN-2018-NCLT-01449. The case involves an application filed by Sunil Beriwal, an operational creditor, under Section…

- **Court:** NCLT
- **Order date:** 7 May 2018
- **Citation:** TCN-2018-NCLT-01449
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/satyalaxmi-tradelinks-private-limited-cpib-no317-kb-2017-2284a942

## Summary

### Background

The case involves an application filed by Sunil Beriwal, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Satyalaxmi Tradelinks Private Limited, the corporate debtor. The operational creditor claims that the corporate debtor owes Rs. 2,20,000/- on account of professional fees. Despite a demand notice, the corporate debtor failed to discharge the debt, leading to the filing of this application.

## Facts

Sunil Beriwal, an operational creditor operating as Beriwal & Associates, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Satyalaxmi Tradelinks Private Limited, a corporate debtor. The operational creditor claimed that the corporate debtor owed Rs. 2,20,000/- for professional fees. A demand notice was issued, and the corporate debtor admitted its liability but expressed an inability to pay due to financial difficulties. The operational creditor produced copies of the invoice, demand notice, and the corporate debtor's reply. The corporate debtor entered an appearance and filed a reply affidavit admitting the claim. The operational creditor proposed Sandip Kumar Kejriwal as the Insolvency Professional, but he declined.

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## Issues and analysis

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

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, allows an operational creditor to

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**Reasoning:** The court found that the operational creditor had demonstrated that a debt of Rs.

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover debts from

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**Application:** The court applied the provisions of Section 9 to the facts of the case, noting

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## Parties

- **Judges:** Jinan…; Madan B.…
- **Appellants:** Sunil Be…
- **Respondents:** Satyalaxmi…

## Timeline

- **2017-04-14 — Demand Notice…**: The operational creditor issued a…
- **2017-04-13 — Corporate Debtor Admits…**: The corporate debtor admitted its liability but…

## 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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