# In the matter of Stockflow Express Pvt. Ltd. (IB)-2414 (ND) 2019

> NCLT judgment dated 2019-11-26. Citation: TCN-2019-NCLT-00435. The petition was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, by an…

- **Court:** NCLT
- **Order date:** 26 Nov 2019
- **Citation:** TCN-2019-NCLT-00435
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/stockflow-express-pvt-ltd-ib-2414-nd-2019-d5d137fa

## Summary

### Background

The petition was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, by an Operational Creditor against a Corporate Debtor for non-payment of dues. The Operational Creditor provided freight forwarding services to the Corporate Debtor, who accepted the services without dispute. Invoices were raised for Rs. 11,38,505/-, and an outstanding amount of Rs. 7,63,429/- remained unpaid, along with interest at 18% p.a. A demand notice was served on 11.07.2019, seeking refund of payments within 10 days, but no reply or payment was received.

## Facts

Aargus Global Logistics Pvt. Ltd. (Operational Creditor) provided freight forwarding services to Stockflow Express Pvt. Ltd. (Corporate Debtor). The Corporate Debtor accepted these services without raising any disputes regarding their quality. The Operational Creditor raised invoices amounting to Rs. 11,38,505/- for services rendered. An outstanding amount of Rs. 7,63,429/- remained unpaid, along with interest at 18% per annum from the due date. The Operational Creditor served a demand notice dated 2019-07-11 to the Corporate Debtor under Section 8 of the Insolvency & Bankruptcy Code, 2016, seeking payment within 10 days. The demand notice was received by the Corporate Debtor on 2019-07-13. The Corporate Debtor neither replied to the demand notice nor made any

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## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor is maintainable under Section 9 of the …

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

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**Reasoning:** The court considered the averments made by the Operational Creditor and found that the

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

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**Application:** The court applied Section 9 to the facts of the case and found that the

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; SUMITAPURKA…
- **Appellants:** Aargus Global…
- **Respondents:** Stockflow Express…

## Timeline

- **2018-11-30 — Invoice…**: Certain invoices were raised…
- **2018-12-01 — Invoice…**: Certain invoices were raised…

## 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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