# In the matter of U V Exports Private Limited (IB)-1411(ND)2019

> NCLT judgment dated 2019-09-19. Citation: TCN-2019-NCLT-01368. The case involves a petition filed by M/s. Ambe Agrofoods Private Limited (Operational…

- **Court:** NCLT
- **Order date:** 19 Sept 2019
- **Citation:** TCN-2019-NCLT-01368
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/u-v-exports-private-limited-ib-1411nd2019-9ae5b1b4

## Summary

### Background

The case involves a petition filed by M/s. Ambe Agrofoods Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. U V Exports Private Limited (Corporate Debtor). The Operational Creditor claimed that they supplied rice to the Corporate Debtor between 19.06.2018 and 01.12.2018, for which invoices were raised and accepted without any demur or protest. The total amount claimed under the invoices was Rs. 38,60,093.60, including interest at 12%.

## Facts

M/s Ambe Agrofoods Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s U V Exports Private Limited (Corporate Debtor). The Operational Creditor claimed to have supplied rice to the Corporate Debtor from 19.06.2018 to 01.12.2018. The invoices were allegedly delivered and accepted by the Corporate Debtor without any protest. The total amount claimed was Rs. 38,60,093.60, including 12% interest. The last payment received by the Operational Creditor was Rs. 50,000 on 11.03.2019. A cheque for Rs. 8,70,096 issued by the Respondent on 28.11.2018 was dishonored due to 'payment stopped by Drawer'. A demand notice dated 26.03.2019 was sent under

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## Issues and analysis

### Issue 1: Whether the present petition is complete and in compliance with Section 9 of the Insolvency and …

**Ratio:** Section 9 of the IBC, 2016 outlines the requirements for an operational creditor to

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**Reasoning:** The court considered the documents and averments made by the Operational Creditor,

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**Interpretation:** The court interpreted Section 9 of the IBC, 2016, and Rule 6 of the Insolvency

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**Application:** The court applied the provisions of Section 9 of the IBC, 2016, and Rule 6 of

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## Parties

- **Judges:** Ina Mal…; L. N. G…
- **Appellants:** M/s Ambe Agrofoods…
- **Respondents:** M/s UV Exports…

## Timeline

- **2018-06-19 — Supply of Rice…**: Operational Creditor starts…
- **2018-11-28 — Cheque I…**: Respondent issues a cheque 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)

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