# In the matter of SRK Kitchen Appliances Private Limited

> NCLT judgment dated 2018-08-01. Citation: TCN-2018-NCLT-01026. The case pertains to a Company Petition (IB) No. 191/ALD/2018 filed under Section 9 of the…

- **Court:** NCLT
- **Order date:** 1 Aug 2018
- **Citation:** TCN-2018-NCLT-01026
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/srk-kitchen-appliances-private-limited-ab317341

## Summary

### Background

The case pertains to a Company Petition (IB) No. 191/ALD/2018 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The petition was filed by Butterfly Appliances, an operational creditor, against SRK Kitchen Appliances Private Limited, the corporate debtor, for initiation of Corporate Insolvency Resolution Process (CIRP) due to outstanding dues.

## Facts

Butterfly Appliances, the operational creditor, filed a petition against SRK Kitchen Appliances Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. SRK Kitchen Appliances Private Limited is a company incorporated on 22/08/2013. The operational creditor claimed that the corporate debtor owed a total of Rs. 30,91,993/-, including a principal amount of Rs. 16,42,032/-, interest of Rs. 11,32,117/-, and GST. The operational creditor stated that they sold and delivered goods/raw materials worth Rs. 23,42,032/- to the corporate debtor. The operational creditor received a total payment of Rs. 7,00,000/-, leaving an outstanding balance of Rs. 16,42,032/-. The operational creditor issued a demand notice dated 20.03.2018, which was

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## Issues and analysis

### Issue 1: Whether the operational creditor has complied with the requirements of Section 9 of the Insolvency …

**Ratio:** Section 9 of the IBC outlines the requirements for an operational creditor to initiate

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**Reasoning:** The Tribunal observed that the operational creditor had submitted the required documents,

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**Interpretation:** Section 9 of the IBC is interpreted to mean that if an operational creditor

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**Application:** In this case, the operational creditor, Butterfly Appliances, demonstrated the

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## Parties

- **Judges:** V. P. S…; Ms Saroj R…
- **Appellants:** Butterfly…
- **Respondents:** M/s SRK Kitchen…
- **Advocates:** Shahid…

## Timeline

- **2013-08-22 — Incorporation of…**: SRK Kitchen Appliances…
- **2018-03-19 — Demand Noti…**: Demand Notice dated 19.03.2018 was…

## 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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