# In the matter of Shree Mataji Graphics Pvt. Ltd. C.P. No.1738-I&BP-2018

> NCLT judgment dated 2019-03-06. Citation: TCN-2019-NCLT-04561. Hubergroup India Private Limited filed a Company Petition against Shreemataji Graphics Pvt.…

- **Court:** NCLT
- **Order date:** 6 Mar 2019
- **Citation:** TCN-2019-NCLT-04561
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shree-mataji-graphics-pvt-ltd-cp-no1738-ibp-2018-62ae392f

## Summary

### Background

Hubergroup India Private Limited filed a Company Petition against Shreemataji Graphics Pvt. Ltd. seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petition alleges that Shreemataji Graphics Pvt. Ltd. defaulted on a payment of Rs. 1,86,68,025/- plus interest at 24% p.a. The petitioner claims to have supplied goods to the corporate debtor between 2016-04-06 and 2016-06-27, raising invoices for Rs. 1,37,09,017/-. The petitioner issued a demand notice on 2018-02-16, but the corporate debtor neither replied nor repaid the dues.

## Facts

Hubergroup India Private Limited (Operational Creditor) filed a petition against Shreemataji Graphics Pvt. Ltd. (Corporate Debtor) under Section 8 & 9 of the IBC, 2016, alleging a default in payment. The Operational Creditor claimed that the Corporate Debtor defaulted on 2016-06-05, owing Rs. 1,86,68,025/- plus interest at 24% p.a. The debt arose from the supply of goods between 2016-04-06 and 2016-06-27, for which invoices totaling Rs. 1,37,09,017/- were raised. A demand notice was issued on 2018-02-16, but the Corporate Debtor did not respond or repay the dues. The Operational Creditor enclosed a certificate from ICICI Bank and an affidavit stating that no reply was received from the Corporate Debtor. The Corporate Debtor contested the petition, claiming no cause

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor is in compliance with the provisions of …

**Ratio:** Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016, outline the procedure for

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**Reasoning:** The Bench was satisfied that the application filed by the Operational Creditor was in

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**Interpretation:** Section 8 requires the operational creditor to deliver a demand notice or

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**Application:** The application was deemed compliant as the Operational Creditor had issued a

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## Parties

- **Judges:** Bhaskara Pantula…; V. Nallasen…
- **Appellants:** Hubergroup India…
- **Respondents:** Shreemataji…

## Timeline

- **2016-04-06 — Goods Sup…**: The Petitioner supplied…
- **2016-06-27 — Goods Sup…**: The Petitioner supplied…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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