# In the matter of Ananya Infra Projects Private Limited CP (IB) No. 150-9-HDB-2021

> NCLT judgment dated 2022-03-01. Citation: TCN-2022-NCLT-03935. The case involves a Company Petition filed by M/s. Krishna Steels, an operational creditor,…

- **Court:** NCLT
- **Order date:** 1 Mar 2022
- **Citation:** TCN-2022-NCLT-03935
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ananya-infra-projects-private-limited-cp-ib-no-150-9-hdb-2021-6063cd07

## Summary

### Background

The case involves a Company Petition filed by M/s. Krishna Steels, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ananya Infra Projects Private Limited. The operational creditor supplied TMT Bars and Cement to the corporate debtor as per their request and purchase orders. Invoices were raised and duly received by the corporate debtor. The corporate debtor issued a cheque which was dishonored due to 'Insufficient Funds'. The corporate debtor postponed payments despite repeated requests.

## Facts

M/s. Krishna Steels, a proprietorship firm, is the operational creditor. Ananya Infra Projects Private Limited is the corporate debtor. The corporate debtor approached the operational creditor to supply TMT Bars and Cement. The operational creditor supplied the goods as per the corporate debtor's instructions and purchase orders. Invoices were raised and duly received by the corporate debtor. The corporate debtor issued a cheque for Rs. 25,00,000/- which was dishonored due to 'Insufficient Funds'. The corporate debtor postponed payments and failed to clear the debt. The principal amount due is Rs. 1,05,11,785/-. The operational creditor issued a demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, on 07.05.2021. The corporate debtor neither

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## 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

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**Reasoning:** The Adjudicating Authority considered the application filed by the Operational Creditor,

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**Interpretation:** Section 9 of the IBC, 2016, provides a mechanism for operational creditors to

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**Application:** In this case, the Operational Creditor, Krishna Steels, filed an application

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## Parties

- **Judges:** Bhaskara Pantula…; BINOD KUMAR…
- **Appellants:** Krishna S…
- **Respondents:** Ananya Infra…

## Timeline

- **2021-05-07 — Demand Notice…**: Operational Creditor issued a Demand Notice under Section 8 of the Insolvency and…
- **2021-09-23 — Respondent Represented…**: The Respondent was represented by his counsel Mrs. Sharada Rani. K, and time was granted…

## 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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