# 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-04883. The case involves a petition filed by Kriyas Unipro Private Limited (Operational Creditor)…

- **Court:** NCLT
- **Order date:** 25 Jan 2023
- **Citation:** TCN-2023-NCLT-04883
- **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-a6c1e789

## 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

Kriyas Unipro Private Limited (Operational Creditor) filed a petition against BFIP Enterprises Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. The Corporate Debtor is in the business of purchasing steam coal and selling it on a commission basis. The Corporate Debtor requested the Operational Creditor to supply steam coal and raised purchase orders. The Operational Creditor supplied steam coal from Indonesian origin, raising invoices from 2022-03-17 to 2022-05-24 for a total amount of Rs. 1,47,39,426/-. On 2022-03-23, the Corporate Debtor paid Rs. 28,00,000/- towards the purchase orders. The outstanding amount of Rs. 1,19,39,426/- remained unpaid. The Operational Creditor sent a demand notice on

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor committed a default in discharging the debt of Rs. 1,19,39,426/- due …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, allows an operational creditor to

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**Reasoning:** The court considered that the Operational Creditor supplied steam coal based on purchase

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**Interpretation:** Section 9 of the IBC is interpreted to mean that if an operational debt is

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**Application:** The ratio and reasoning were applied to the facts, showing that the Corporate

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## Parties

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

## Timeline

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

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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