# In the matter of BFIP Enterprises Private Limited CP (IB) No. 126-9-AMR-2022

> NCLT judgment dated 2023-01-25. Citation: TCN-2023-NCLT-04888. The case involves a petition filed by Kriyas Unipro Private Limited (Operational Creditor)…

- **Court:** NCLT
- **Order date:** 25 Jan 2023
- **Citation:** TCN-2023-NCLT-04888
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bfip-enterprises-private-limited-cp-ib-no-126-9-amr-2022-a17d3b16

## Summary

### Background

The case involves a petition filed by Kriyas Unipro Private Limited (Operational Creditor) against BFIP Enterprises Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in payment of Rs. 1,19,39,426/-.

## Facts

BFIP Enterprises Private Limited (Corporate Debtor) is in the business of purchasing steam coal and selling it to customers on a commission basis. Kriyas Unipro Private Limited (Operational Creditor) supplied steam coal to the Corporate Debtor based on purchase orders. The Operational Creditor raised invoices for a total amount of Rs. 1,47,39,426/- for the steam coal supplied between 17.03.2022 and 24.05.2022. The Corporate Debtor made a partial payment of Rs. 28,00,000/- on 23.03.2022, leaving an outstanding amount of Rs. 1,19,39,426/-. The Operational Creditor sent a demand notice on 30.09.2022, which was received by the Corporate Debtor on 07.10.2022, but no payment or reply was made. The Corporate Debtor's counsel did not deny the outstanding debt. The Operational

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, BFIP Enterprises Private Limited, committed a default in discharging …

**Ratio:** The legal principle applied is that if a corporate debtor fails to pay an operational

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**Reasoning:** The court reasoned that the Operational Creditor provided evidence of the debt through

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**Interpretation:** The interpretation of the law is that an 'operational debt' includes a claim in

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**Application:** In this case, the Operational Creditor supplied steam coal to the Corporate

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## Parties

- **Judges:** TELAPROLU…
- **Appellants:** Kriyas Unipro…
- **Respondents:** BFIP Enterprises…

## Timeline

- **2022-03-10 — Purchase…**: Corporate Debtor raised Purchase Order…
- **2022-04-01 — Purchase…**: Corporate Debtor raised Purchase Order…

## 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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