# In the matter of Soura Natural Energy Solutions Pvt. Ltd. CP(IBC)-23-KOB-2021

> NCLT judgment dated 2022-01-07. Citation: TCN-2022-NCLT-04508. The operational creditor filed an application under Section 9 of the IBC for the recovery of an…

- **Court:** NCLT
- **Order date:** 7 Jan 2022
- **Citation:** TCN-2022-NCLT-04508
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/soura-natural-energy-solutions-pvt-ltd-cpibc-23-kob-2021-5e087de8

## Summary

### Background

The operational creditor filed an application under Section 9 of the IBC for the recovery of an operational debt from the corporate debtor, which included the cost of goods sold and interest.

## Facts

Raychem-RPG Private Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Soura Natural Energy Solutions Pvt. Ltd., the corporate debtor. The application sought recovery of an operational debt totaling Rs. 4,42,72,038.61/-, which included Rs. 3,25,67,246.45/- for the sale of goods and Rs. 1,17,04,792.16/- for interest. The operational creditor stated that the corporate debtor had requested goods and agreed to make payment within one month of invoice issuance, along with applicable interest. The operational creditor delivered the goods and issued invoices, but the corporate debtor defaulted on payments for 11 invoices. The invoices, with dates ranging from April 24, 2018, to July 19, 2018, and

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the IBC is complete …

**Ratio:** An application under Section 9 of the IBC is admissible if the corporate debtor admits

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**Reasoning:** The Corporate Debtor admitted and acknowledged the debt in its counter statement, stating

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**Interpretation:** The court interpreted the Corporate Debtor's statement in its counter as an

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**Application:** Given the Corporate Debtor's admission of debt and failure to dispute it prior

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## Parties

- **Judges:** Ashok Kumar…; Shyam Babu…; +2 more
- **Appellants:** Raychem-RPG…
- **Respondents:** Soura Natural…
- **Advocates:** For Applicant/Oper…; Shri. Manav…; +1 more

## Timeline

- **April 24, 2018 — Invoice…**: Invoice Number 7251800016…
- **May 9, 2018 — Date of D…**: Default on payment for…

## 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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