# In the matter of U.I. Beverages Pvt. Ltd. CP (IB) No.97 -Chd-Pb-2019

> NCLT judgment dated 2020-03-02. Citation: TCN-2020-NCLT-01713. Nilkamal Limited, the operational creditor, filed a petition under Section 9 of the Insolvency…

- **Court:** NCLT
- **Order date:** 2 Mar 2020
- **Citation:** TCN-2020-NCLT-01713
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ui-beverages-pvt-ltd-cp-ib-no97-chd-pb-2019-128ab575

## Summary

### Background

Nilkamal Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against U.I. Beverages Pvt. Ltd., the corporate debtor, due to unpaid operational debt. The operational creditor supplied plastic crates to the corporate debtor, and the debt became due from the respective dates of the invoices. The corporate debtor issued cheques for partial discharge of its liability, which were dishonored. The corporate debtor also admitted its liability along with 18% interest for delay in payment through an e-mail dated 13.10.2015 and a letter dated 16.01.2016. A Memorandum of Understanding dated 01.03.2016 was executed between the parties, where the

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## Facts

Nilkamal Limited (Operational Creditor) supplied plastic crates to U.I. Beverages Pvt. Ltd. (Corporate Debtor). The Corporate Debtor failed to make payments against various invoices, leading to an operational debt. The Corporate Debtor issued cheques for partial discharge of its liability, which were dishonored. The Corporate Debtor admitted its liability along with 18% interest for delay in payment via email dated 2015-10-13 and letter dated 2016-01-16. A Memorandum of Understanding (MOU) dated 2016-03-01 was executed, where the Corporate Debtor admitted the liability and confirmed the issuance of cheques and admitted interest for delay in payment at 18% per annum. The Operational Creditor requested the Corporate Debtor to issue ‘C' Form in respect of supplies made,

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## Issues and analysis

### Issue 1: Whether the demand notice in Form No. 3 …

**Ratio:** The demand notice must be served at the correct address of the corporate debtor as per

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**Reasoning:** The court observed that the demand notice was sent to the address as per the master data

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**Interpretation:** The service of demand notice is a crucial step in initiating CIRP. The notice

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**Application:** The court found that the demand notice was sent to the correct address of the

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## Parties

- **Judges:** Ajay Kumar…; Pradeep R.…
- **Appellants:** Nilkamal L…
- **Respondents:** U.I. Beverages…

## Timeline

- **2013-11-12 — Incorporation of…**: U.I. Beverages Pvt. Ltd. was incorporated…
- **2015-10-13 — E-mail from Corporate…**: Corporate Debtor assured the payment…

## 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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