# In the matter of Shree Balaji Prin topack Pvt. Ltd. CP-IB-391-ND-2018

> NCLT judgment dated 2018-06-13. Citation: TCN-2018-NCLT-01284. Usaka Electrotech Pvt. Limited, an operational creditor, filed an application under Section 9…

- **Court:** NCLT
- **Order date:** 13 Jun 2018
- **Citation:** TCN-2018-NCLT-01284
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shree-balaji-prin-topack-pvt-ltd-cp-ib-391-nd-2018-c6c728b5

## Summary

### Background

Usaka Electrotech Pvt. Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Shree Balaji Printopack Pvt. Limited, the corporate debtor, for unpaid dues related to the supply of packing materials. The corporate debtor acknowledged the debt and did not resist the application.

## Facts

Usaka Electrotech Pvt. Limited (Operational Creditor) filed an application against Shree Balaji Printopack Pvt. Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application pertained to unpaid invoices for packing materials supplied by Usaka Electrotech to Shree Balaji Printopack. The invoices were accepted without dispute but remained unpaid. The amount due was Rs. 7,94,757/-. A demand notice was issued on 2018-03-14 and received by the Corporate Debtor on 2018-03-22, wherein the Corporate Debtor acknowledged the debt but sought time for payment. The Corporate Debtor conceded to the default through its counsel and filed an affidavit accepting the default and undertaking full cooperation. The Corporate Debtor admitted to

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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(5) of the IBC, 2016, allows for the admission of an application if the

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**Reasoning:** The court reasoned that the Corporate Debtor had conceded to the default and had not

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**Interpretation:** Section 9 of the IBC, 2016, provides the framework for an operational creditor

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**Application:** In this case, the Corporate Debtor's admission of the debt and default, coupled

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## Parties

- **Judges:** R. VARADH…; DR.V.K.Su…
- **Appellants:** Usaka Electrotech…
- **Respondents:** Shree Balaji…

## Timeline

- **2018-03-14 — Demand Notice…**: Usaka Electrotech Pvt. Ltd. issued a demand notice to Shree Balaji Printopack Pvt. Ltd.…
- **2018-03-22 — Demand Notice…**: Shree Balaji Printopack Pvt. Ltd. received the…

## 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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