# In the matter of Talwar Agencies Pvt. Ltd. (IB)-627(ND)-2018

> NCLT judgment dated 2018-08-06. Citation: TCN-2018-NCLT-00996. Aman Khera, operating as Khera Enterprises, filed a petition under Section 9 of the Insolvency…

- **Court:** NCLT
- **Order date:** 6 Aug 2018
- **Citation:** TCN-2018-NCLT-00996
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/talwar-agencies-pvt-ltd-ib-627nd-2018-3c49b6dc

## Summary

### Background

Aman Khera, operating as Khera Enterprises, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Talwar Agencies Pvt. Ltd., the corporate debtor, due to unpaid operational debt. Khera Enterprises, engaged in manufacturing and selling melamine crockery, had been supplying goods to Talwar Agencies since April 2001. A running account was maintained, and as per the creditor's statement, Rs. 53,37,043.62 was outstanding. The last payment of Rs. 1 lakh was received on October 31, 2016. Despite repeated reminders, Talwar Agencies failed to reduce the liability. Khera Enterprises issued a notice on April 3, 2018, received by Talwar Agencies on April 5, 2018.

## Facts

Aman Khera, operating as Khera Enterprises, is an operational creditor engaged in the business of manufacturing and selling melamine crockery and allied utensils. Talwar Agencies Pvt. Ltd. is the corporate debtor. Khera Enterprises had been supplying goods to Talwar Agencies since April 2001, maintaining a running account. As of the statement of account, Rs. 53,37,043.62 was due from Talwar Agencies. The last payment of Rs. 1 lakh was received on October 31, 2016. Despite repeated reminders, Talwar Agencies did not reduce the liability. Khera Enterprises issued a notice on April 3, 2018, which Talwar Agencies received on April 5, 2018. Talwar Agencies filed a civil suit for mandatory injunction on April 18, 2018, claiming the goods supplied were defective. The court

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## Issues and analysis

### Issue 1: Whether the objections raised by the …

**Ratio:** The principle is that objections raised to delay or evade the insolvency process should

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**Reasoning:** The court reasoned that the Corporate Debtor's objections, including the claim of

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**Interpretation:** The interpretation is that objections raised by a corporate debtor must have a

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**Application:** In this case, the court applied the principle by dismissing the Corporate

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## Parties

- **Judges:** Ina Mal…; DeepaKr…
- **Appellants:** Aman K…
- **Respondents:** Talwar Agencies…

## Timeline

- **2001-04-01 — Business Relationship…**: Khera Enterprises began…
- **2016-10-31 — Last Payment…**: Khera Enterprises received the last…

## 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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