# In the matter of Calzini Fashions Limited Company Petition (IB)No. 321-ND-2020 Along with IA-1908-2020

> NCLT judgment dated 2022-07-19. Citation: TCN-2022-NCLT-01648. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 19 Jul 2022
- **Citation:** TCN-2022-NCLT-01648
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/calzini-fashions-limited-company-petition-ibno-321-nd-2020-along-with-ia-1908-20-38868770

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Jayna Traders Private Limited (Operational Creditor) against Calzini Fashions Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of dues. The Operational Creditor supplied goods to the Corporate Debtor between March 30, 2019, and September 11, 2019, raising several invoices. Despite repeated requests, the Corporate Debtor failed to pay the outstanding amount of INR 11,39,515. The Operational Creditor then issued a demand notice on November 30, 2019. The Corporate Debtor responded by alleging the supply of bad quality goods and disputing the debt. The Operational Creditor claims that there was no dispute

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## Facts

From March 30, 2019, to September 11, 2019, Jayna Traders Private Limited (Operational Creditor) supplied goods to Calzini Fashions Limited (Corporate Debtor) and raised several invoices. The Corporate Debtor failed to pay the outstanding amount of INR 11,39,515. From September 12, 2019, to December 1, 2019, the Operational Creditor requested payment via telephone and email. The Corporate Debtor defaulted on payments. On November 30, 2019, the Operational Creditor sent a demand notice. On December 2, 2019, the Corporate Debtor received the demand notice via email. On December 4, 2019, the Corporate Debtor alleged the supply of bad quality goods via email. On December 14, 2019, the Corporate Debtor sent a written letter replying to the demand notice. The total debt

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## Issues and analysis

### Issue 1: Whether the present petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 is …

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

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**Reasoning:** The court examined whether the Operational Creditor had complied with the mandatory

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**Interpretation:** The court interpreted Section 9 to mean that the application must be filed by a

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**Application:** The court found that the Operational Creditor had complied with the mandatory

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## Parties

- **Judges:** SHRI. P.S.N.…; SHRI. RAHUL…
- **Appellants:** Jayna Traders…
- **Respondents:** Calzini Fashions…

## Timeline

- **2019-03-30 — Goods Sup…**: Operational creditor supplied…
- **2019-09-11 — Last Bill Su…**: Operational Creditor submitted its…

## 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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