# In the matter of CAMSON SEEDS LIMITED

> NCLT judgment dated 2025-04-09. Citation: TCN-2025-NCLT-00222. The case involves an application filed by Pan Oceanic Seed Solutions Private Limited, an…

- **Court:** NCLT
- **Order date:** 9 Apr 2025
- **Citation:** TCN-2025-NCLT-00222
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/camson-seeds-limited-b9a8812b

## Summary

### Background

The case involves an application filed by Pan Oceanic Seed Solutions Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Camson Seeds Limited, the corporate debtor. The operational creditor claims that the corporate debtor defaulted on a total outstanding amount of Rs. 1,08,09,250/-. The corporate debtor acknowledged the debt multiple times but failed to clear the outstanding dues.

## Facts

Pan Oceanic Seed Solutions Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Camson Seeds Limited (Corporate Debtor) due to a default of Rs. 1,08,09,250/-. The Operational Creditor supplied various seeds to the Corporate Debtor based on purchase orders, raising invoices amounting to Rs. 1,20,11,800/-. The first default occurred on 24.07.2017. The Corporate Debtor acknowledged the debt and made partial payments totaling Rs. 12,02,550. The Corporate Debtor also requested the Operational Creditor to take back certain products, which led to the issuance of a credit note. Despite repeated reminders and acknowledgments of debt, the Corporate

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating …

**Ratio:** The ratio is based on the provisions of Section 9 of the IBC, which allows an operational

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**Reasoning:** The court reasoned that the Corporate Debtor admitted the debt and obligation to pay. The

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**Interpretation:** The interpretation is that if a debt is admitted and a default has occurred,

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**Application:** The court applied this ratio to the facts, noting that the Corporate Debtor

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** PAN OCEANIC SEED…
- **Respondents:** CAMSON SEEDS…

## Timeline

- **2017-07-24 — First De…**: First invoice debt fell…
- **2017-11-08 — Corporate Debto…**: Corporate Debtor requested the Operational…

## 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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