# In the matter of Stratus Foods Pvt. Ltd CP. No. 3-9-Ahm-2017

> NCLT judgment dated 2017-04-10. Citation: TCN-2017-NCLT-00915. M/s. Umiya Trading, the operational creditor/applicant, filed a petition under Section 9 of the…

- **Court:** NCLT
- **Order date:** 10 Apr 2017
- **Citation:** TCN-2017-NCLT-00915
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/stratus-foods-pvt-ltd-cp-no-3-9-ahm-2017-a2d9f53b

## Summary

### Background

M/s. Umiya Trading, the operational creditor/applicant, filed a petition 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, against M/s. Stratus Foods Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor purchased goods from them between April 1, 2016, and January 29, 2017, but failed to make payments as per the terms and conditions of the invoices. The applicant issued a demand notice on February 20, 2017, which was served on the corporate debtor on February 21, 2017. The corporate debtor neither paid the amount nor replied to the notice.

## Facts

M/s. Umiya Trading (Operational Creditor) filed a petition against M/s. Stratus Foods Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor purchased goods from the Operational Creditor between April 1, 2016, and January 29, 2017, as evidenced by retail invoices. The payment terms were net 30 days from the invoice date. The Corporate Debtor failed to make payments within the stipulated time. The Operational Creditor issued a demand notice on February 20, 2017, which was served on February 21, 2017. The Corporate Debtor did not respond to the demand notice or make any payments. The total amount claimed by the Operational Creditor was Rs. 22,50,038/-. The Corporate Debtor accepted the goods without any

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## Issues and analysis

### Issue 1: Whether the claim is an …

**Ratio:** Section 5(21) of the Code defines 'operational debt' as a claim in respect of the

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**Reasoning:** The facts disclosed that the Applicant supplied goods to the Corporate Debtor. Therefore,

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**Interpretation:** The definition of 'operational debt' is interpreted to include claims arising

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**Application:** Since the Applicant supplied goods to the Corporate Debtor, the claim for the

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## Parties

- **Judges:** BIKKI RAVEENDRA…
- **Appellants:** Umiya Tr…
- **Respondents:** Stratus Foods…; Stratus Foods…
- **Advocates:** Nitin H.…

## Timeline

- **2016-04-01 — Goods Pur…**: Corporate Debtor purchased goods from Operational Creditor between 2016-04-01 and…
- **2017-02-20 — Demand Notice…**: Applicant issued Demand Notice dated…

## 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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