# In the matter of Tirupati Basmati Exports Private Limited CP (IB) No. 179-Chd-Hry-2019

> NCLT judgment dated 2019-10-07. Citation: TCN-2019-NCLT-01079. The case involves a Corporate Insolvency Resolution Process (CIRP) initiated under Section 9 of…

- **Court:** NCLT
- **Order date:** 7 Oct 2019
- **Citation:** TCN-2019-NCLT-01079
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tirupati-basmati-exports-private-limited-cp-ib-no-179-chd-hry-2019-cba8eeec

## Summary

### Background

The case involves a Corporate Insolvency Resolution Process (CIRP) initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Tirupati Basmati Exports Private Limited. An application was filed by M/s. Sahil Singh Ayaan Kumar, Commission Agents, as an operational creditor. Previously, another CIRP application, CP (IB) 371/Chd/CHD/2018, filed by State Bank of India against the same corporate debtor, was admitted. A moratorium was declared, and an Interim Resolution Professional was appointed in the earlier case.

## Facts

M/s. Sahil Singh Ayaan Kumar, Commission Agents, filed a CP application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Tirupati Basmati Exports Private Limited. This application sought to initiate CIRP against the corporate debtor. Prior to this application, State Bank of India, a financial creditor, had already filed a CP application (CP (IB) 371/Chd/CHD/2018) against the same corporate debtor, which was admitted by the Adjudicating Authority on 27.09.2019. Consequently, a moratorium was declared, and an Interim Resolution Professional was appointed. The order in the current case is dated 07.10.2019.

## Issues and analysis

### Issue 1: Whether the CP application filed by the operational creditor, M/s. Sahil Singh Ayaan Kumar, should …

**Ratio:** When a CIRP has already been initiated and admitted based on an application by a

…

**Reasoning:** The court reasoned that since a CIRP was already in progress due to the admission of

…

**Interpretation:** This interpretation emphasizes the principle of consolidation and efficiency in

…

**Application:** In this case, the court applied the ratio by disposing of the operational

…

## Parties

- **Judges:** Ajay Kumar…; Pradeep R.…
- **Appellants:** M/s. Sahil Singh…
- **Respondents:** Tirupati Basmati…

## Timeline

- **2018-01-01 — CP (IB) 371/Chd/CHD/2018…**: CP (IB) 371/Chd/CHD/2018 filed by State Bank of India against Tirupati Basmati Exports…
- **2019-09-27 — SBI's CP Application…**: State Bank of India's CP application was admitted by the Adjudicating Authority.…

## 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/tirupati-basmati-exports-private-limited-cp-ib-no-179-chd-hry-2019-cba8eeec