# In the matter of Ahalya Trading Pvt. Ltd. C.P.(lBl1894-MB-2019

> NCLT judgment dated 2022-09-27. Citation: TCN-2022-NCLT-00920. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 27 Sept 2022
- **Citation:** TCN-2022-NCLT-00920
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ahalya-trading-pvt-ltd-cplbl1894-mb-2019-ec8122bf

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, filed by Avanti Resources Pvt Ltd (Operational Creditor) against Ahalya Trading Pvt Ltd (Corporate Debtor). The Corporate Debtor failed to appear despite multiple listings and prior notice. The Operational Creditor claims an amount of Rs. 1,42,19,000/- which includes principal and interest.

## Facts

Avanti Resources Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the IBC against Ahalya Trading Pvt Ltd (Corporate Debtor) for non-payment of dues. The Operational Creditor claimed Rs. 1,42,19,000/-, comprising a principal amount of Rs. 1,20,50,000/- and interest of Rs. 21,69,000/- as of March 31, 2019. The claim is based on two invoices dated January 30, 2014, and January 31, 2014, totaling Rs. 1,56,25,393/-. The Corporate Debtor made a part payment, leaving Rs. 1,42,19,000/- outstanding. The Corporate Debtor acknowledged the debt in letters written between 2016 and 2018 but failed to make further payments. The Operational Creditor issued a demand notice on April 15, 2019, under Section 8 of the IBC, which the Corporate Debtor did not respond to.

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## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor under Section 9 of the IBC is maintainable …

**Ratio:** The principle is that if a corporate debtor fails to respond to a demand notice under

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**Reasoning:** The court reasoned that the Corporate Debtor was duly served through paper publication

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**Interpretation:** Section 9 of the IBC allows an operational creditor to initiate corporate

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**Application:** In this case, the Corporate Debtor's failure to respond to the demand notice

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## Parties

- **Judges:** SH. SHYAM BABU…; P.N. Des…
- **Respondents:** Ahalya Trading…

## Timeline

- **2014-01-30 — Invoice…**: One of the invoices was…
- **2014-01-31 — Invoice…**: Another invoice was…

## 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)

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