# Sumukha Farm Products Private Limited vs. Stalwart Agronomics Private Limited

> NCLT judgment dated 2026-10-07. Citation: TCN-2026-NCLT-01186. Sumukha Farm Products Private Limited (Operational Creditor/Petitioner) filed a petition under…

- **Court:** NCLT
- **Order date:** 7 Oct 2026
- **Citation:** TCN-2026-NCLT-01186
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/stalwart-agronomics-private-limited-l06q9

## Summary

### Background

Sumukha Farm Products Private Limited (Operational Creditor/Petitioner) filed a petition under Section 9 of the IBC, 2016, against Stalwart Agronomics Private Limited (Corporate Debtor/Respondent) for defaulting on operational debt. The Corporate Debtor, engaged in trading agricultural products, had approached the Petitioner for supplies in 2018 and executed a dealership agreement. While payments were regular until FY 2022-2023, defaults began from FY 2024-2025. Despite a forewarning on 05.12.2024 and the Petitioner ceasing supplies on 28.02.2025, the Corporate Debtor failed to clear dues. On 20.08.2025, a debt conversion and secured loan agreement was executed, along with a personal guarantee from the directors, acknowledging the debt and agreeing to new payment

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## Facts

The petition CP(IB)/89(CHE)/2026 was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC).

The petition was filed on 10.04.2026 by Sumukha Farm Products Private Limited, the Operational Creditor/Petitioner.

The petition was filed against Stalwart Agronomics Private Limited, the Corporate Debtor/Respondent, for default in repayment of operational debt.

Stalwart Agronomics Private Limited was incorporated on 20.08.2018 with a paid-up capital of Rs. 14,80,39,000/-.

The Petitioner proposed Ms. Medha Kulkarni as the Interim Resolution Professional (IRP).

The total debt in default was Rs. 7,41,10,905/- as on 20.01.2026, including interest.

The date of default was 20.01.2026.

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## Issues and analysis

### Issue 1: Whether the petition for initiating Corporate Insolvency Resolution Process (CIRP) against the …

**Ratio:** A petition under Section 9 of IBC for initiating CIRP against a Corporate Debtor must be

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**Reasoning:** The Corporate Debtor acknowledged its liability through a debt conversion and secured

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**Interpretation:** The NCLT interpreted the lack of a reply and prior dispute, coupled with

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**Application:** The NCLT applied Section 9 of IBC, 2016, finding that all statutory

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** Sumukha Farm…
- **Respondents:** Stalwart Agronomic…
- **Other parties:** Directors of…; Medha Kul…
- **Advocates:** P. Chithra…; Mr.K.Chandrasekara…; +2 more

## Timeline

- **2018 — Engagement and…**: Stalwart Agronomics Private Limited (Respondent) engaged Sumukha Farm Products Private…
- **2018-08-20 — Corporate Debtor…**: Stalwart Agronomics Private Limited was incorporated with a paid-up capital of Rs.…

## 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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