# In the matter of Shree Raghuvanshi Fibers Private Limited C.P. (I.B) No. 563-9-NCLT-AHM-2019

> NCLT judgment dated 2020-02-18. Citation: TCN-2020-NCLT-01911. The case involves a petition filed by Manishbhai Baghabhai Aahir, an operational creditor,…

- **Court:** NCLT
- **Order date:** 18 Feb 2020
- **Citation:** TCN-2020-NCLT-01911
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shree-raghuvanshi-fibers-private-limited-cp-ib-no-563-9-nclt-ahm-2019-6dc5efb1

## Summary

### Background

The case involves a petition filed by Manishbhai Baghabhai Aahir, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Shree Raghuvanshi Fibres Private Limited for unpaid operational debt. The petitioner and the respondent had a business relationship since 2018, with the corporate debtor placing orders for cotton for ginning and pressing. The operational creditor supplied goods between 21.03.2018 and 28.03.2018, totaling INR 12,21,200.00.

## Facts

Manishbhai Baghabhai Aahir, the petitioner, is an operational creditor engaged in cotton ginning and pressing. Shree Raghuvanshi Fibres Private Limited, the corporate debtor, was incorporated on 03.09.2007. The petitioner and respondent had a business relationship since 2018. Between 21.03.2018 and 28.03.2018, the petitioner supplied cotton to the respondent totaling INR 12,21,200.00. The dates of default started from 21.03.2018, 25.03.2018, and 28.03.2018. The operational creditor dispatched a demand notice on 18.06.2019. The respondent admitted the default in an affidavit dated 22.08.2019. The application was filed on 16.07.2019. The supplied cotton was transported via trucks GJ-11U-8888 and GTW-3892. The corporate debtor issued a Gate Pass Inward dated 25.03.2018,

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## Issues and analysis

### Issue 1: Whether the petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, for …

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

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**Reasoning:** The Adjudicating Authority considered the documents and submissions made by the

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** The petitioner, being an operational creditor, filed the petition under Section

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## Parties

- **Judges:** Harihar Prakash…; Prasanta Kumar…
- **Appellants:** Manishbhai…
- **Respondents:** Shree Raghuvanshi…; Shree Raghuvanshi…; +1 more

## Timeline

- **2007-09-03 — Incorporation of…**: Shree Raghuvanshi Fibres…
- **2018-03-21 — First Date of…**: First date of default by the Corporate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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