# In the matter of Vansh Exports Pvt Ltd CP (IB) No. 619-9-NCLT-AHM-2019

> NCLT judgment dated 2020-10-22. Citation: TCN-2020-NCLT-00349. The case pertains to an application filed by Mahanand Thakur, the operational creditor, under…

- **Court:** NCLT
- **Order date:** 22 Oct 2020
- **Citation:** TCN-2020-NCLT-00349
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vansh-exports-pvt-ltd-cp-ib-no-619-9-nclt-ahm-2019-6f0e6cc3

## Summary

### Background

The case pertains to an application filed by Mahanand Thakur, the operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vansh Exports Private Limited, the corporate debtor. The operational creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to a default in paying an operational debt of Rs. 22,65,085/- plus interest. The date of default was stated to be in June 2019.

## Facts

Mahanand Thakur, proprietor of Smart Secure Solutions, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vansh Exports Private Limited, seeking to initiate CIRP. The operational debt was Rs. 22,65,085/- plus interest, with the default occurring in June 2019. The operational creditor had issued a purchase order to the corporate debtor for the supply of goods and had given an advance of Rs. 31.00 lakhs. A sum of Rs. 22,65,085/- remained outstanding. The corporate debtor issued a cheque to settle the matter, but it was dishonored, leading to proceedings under Section 138 of the Negotiable Instruments Act, 1881. The operational creditor sent a demand notice under Section 8 of the I.B. Code on 26.06.2019. The corporate debtor did not

…

## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, allows an operational creditor to

…

**Reasoning:** The Adjudicating Authority considered the evidence presented by the operational creditor,

…

**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

…

**Application:** The operational creditor, Mahanand Thakur, filed the application under Section

…

## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** Mahanand…
- **Respondents:** Vansh Exports Pvt…

## Timeline

- **2019-06-01 — Date of D…**: The date of default in paying the operational debt is stated to be in the month of June…
- **2019-06-26 — Demand N…**: Operational creditor sent the Corporate Debtor a notice of Demand under Section 8 of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

---

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/vansh-exports-pvt-ltd-cp-ib-no-619-9-nclt-ahm-2019-6f0e6cc3