# In the matter of Suryachakra Energy & Infrastructure Private Limited CP (IB) No. 307-9-HDB-2020

> NCLT judgment dated 2021-07-16. Citation: TCN-2021-NCLT-01705. The case involves a petition filed by Mr. Kasi Vishwanadham, an Operational Creditor, against…

- **Court:** NCLT
- **Order date:** 16 Jul 2021
- **Citation:** TCN-2021-NCLT-01705
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/suryachakra-energy-infrastructure-private-limited-cp-ib-no-307-9-hdb-2020-d51a8640

## Summary

### Background

The case involves a petition filed by Mr. Kasi Vishwanadham, an Operational Creditor, against Surya Chakra Energy and Nastrructure Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditor claims an amount of Rs. 5,95,600/- (Rupees Five Lakhs Ninety-Five Thousand Six Hundred only) along with 18% interest is due from the Corporate Debtor for the supply of prawn seeds as of 15.04.2019. The Corporate Debtor acknowledged the debt but cited financial difficulties as the reason for non-payment.

## Facts

Mr. Kasi Vishwanadham, an Operational Creditor, filed a petition against Surya Chakra Energy and Nastrructure Pvt Ltd, a Corporate Debtor, under Section 9 of the IBC, 2016. The claim is for Rs. 5,95,600/- plus 18% interest, totaling the amount due for the supply of prawn seeds as of 15.04.2019. The Operational Creditor is in the business of supplying prawn seeds to Aqua culture firms. In early 2019, the Corporate Debtor requested a large supply of prawn seeds, leading to an MOU on 26.03.2019 for supply on 30 days credit with 18% interest beyond that period. The Operational Creditor supplied 1861.25 Kgs of prawn seeds worth Rs. 5.96 Lakhs via invoice dated 15.04.2019. The Corporate Debtor acknowledged the debt in a reply affidavit dated 03.02.2021, citing financial

…

## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor under Section 9 of the IBC, 2016, is …

**Ratio:** Section 9 of the IBC, 2016, allows an operational creditor to initiate CIRP against a

…

**Reasoning:** The court considered the invoices, bank statements, and the Corporate Debtor's

…

**Interpretation:** Section 9 of the IBC provides a mechanism for operational creditors to recover

…

**Application:** The court applied Section 9 of the IBC to the facts, noting that the Corporate

…

## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** K Kasi Vishwanadha…
- **Respondents:** Surya Chakra…

## Timeline

- **2019-03-26 — MOU Ente…**: Operational creditor and Corporate Debtor entered into an MOU for supply of prawn seeds…
- **2019-04-15 — Invoice…**: Operational creditor supplied 1861.25 Kgs of…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/suryachakra-energy-infrastructure-private-limited-cp-ib-no-307-9-hdb-2020-d51a8640