# In the matter of Archis Enterprises (India) Private Limited

> NCLT judgment dated 2024-03-12. Citation: TCN-2024-NCLT-02105. The case involves an application filed by Mahashakti Plasto Private Limited (Operational…

- **Court:** NCLT
- **Order date:** 12 Mar 2024
- **Citation:** TCN-2024-NCLT-02105
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/archis-enterprises-india-private-limited-27b20303

## Summary

### Background

The case involves an application filed by Mahashakti Plasto Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Archis Enterprises (India) Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted in payment of operational debt amounting to Rs. 2,38,72,482/- inclusive of interest. The Corporate Debtor failed to submit a reply despite multiple opportunities granted by the Tribunal.

## Facts

Mahashakti Plasto Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Archis Enterprises (India) Private Limited (Corporate Debtor). The Operational Creditor supplied Kraft paper to the Corporate Debtor between 18.01.2018 and 01.12.2018. The invoices remained unpaid, leading to a total outstanding of Rs. 2,38,72,482.00/- as of 31.03.2019, including interest of Rs. 11,60,612/-. A demand notice was issued on 04.04.2019. The Corporate Debtor acknowledged the debt but expressed inability to pay due to market fluctuations and internal financial issues. A part payment of Rs. 3,00,000/- was made on 25.11.2020. The Corporate Debtor failed to

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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 Tribunal observed that the Operational Creditor had supplied goods to the Corporate

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

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**Application:** The Tribunal found that the application was complete, filed in the prescribed

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## Parties

- **Judges:** K. R. SAJI…; SANJIV…
- **Appellants:** Mahashakti Plasto…
- **Respondents:** Archis Enterprises…

## Timeline

- **2018-01-18 — Supply of Kra…**: Operational Creditor supplied Kraft…
- **2018-12-01 — Last Supply of Kraft…**: Last supply of Kraft paper by…

## 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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