# In the matter of SRK Multimodal Solutions Private Limited CP (IB) No. 55-NCLT-AHM-2020

> NCLT judgment dated 2021-11-23. Citation: TCN-2021-NCLT-00433. The case pertains to an application filed by East India Transport Agency, the Operational…

- **Court:** NCLT
- **Order date:** 23 Nov 2021
- **Citation:** TCN-2021-NCLT-00433
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/srk-multimodal-solutions-private-limited-cp-ib-no-55-nclt-ahm-2020-03fb0c93

## Summary

### Background

The case pertains to an application filed by East India Transport Agency, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against SRK Multimodal Solutions Private Limited, the Corporate Debtor. The operational creditor claimed a debt of Rs. 48,42,248/-, including interest. The date of default was 16.01.2017, when the corporate debtor acknowledged the operational debt.

## Facts

East India Transport Agency (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against SRK Multimodal Solutions Private Limited (Corporate Debtor). The Operational Creditor claimed a debt of Rs. 48,42,248/-, including interest, with the date of default being 16.01.2017. The Operational Creditor is engaged in the business of transport and had provided services of transporting Wire-rods and Aluminium Ingot from Navi Mumbai to Silvassa during the period from 11.09.2015 to 26.03.2016. The Corporate Debtor had issued 5 cheques worth Rs. 25,00,000/- during the period from 30.10.2016 to 31.12.2016, which were dishonoured. The Operational Creditor issued a legal

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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 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 of the IBC provides a mechanism for operational creditors to recover

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**Application:** In this case, the Operational Creditor demonstrated the existence of an

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## Parties

- **Judges:** Madan B.…; Ajai Das Me…
- **Appellants:** East India…
- **Respondents:** SRK Multimodal…; SRK Multimodal…

## Timeline

- **2015-09-11 — Service Provis…**: Operational Creditor started providing…
- **2016-03-26 — Service Provi…**: Operational Creditor ended providing…

## 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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