# In the matter of Concept Biosciences India Private Limited C.P (IB) No.74-KB-2020

> NCLT judgment dated 2022-04-01. Citation: TCN-2022-NCLT-03438. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 1 Apr 2022
- **Citation:** TCN-2022-NCLT-03438
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/concept-biosciences-india-private-limited-cp-ib-no74-kb-2020-98a33852

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Radico Khaitan Limited (Operational Creditor) against Concept Biosciences India Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for the supply of pharma pet bottles. The Corporate Debtor contested the application, citing pre-existing disputes regarding the quality of the supplied goods and the authority of the person who filed the application on behalf of the Operational Creditor.

## Facts

Radico Khaitan Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Concept Biosciences India Private Limited (Corporate Debtor) for initiating CIRP due to unpaid operational debt. The Operational Creditor supplied pharma pet bottles to the Corporate Debtor between August and October 2019, based on purchase orders placed by the Corporate Debtor. The invoices for the supplied goods amounted to Rs. 67,71,412/-. The Operational Creditor claimed that the Corporate Debtor failed to make payments despite receiving the goods without any objection. The Operational Creditor issued a demand notice on 28th December 2019, which the Corporate Debtor allegedly did not reply to. The Corporate Debtor contended that

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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:** The application under Section 9 of the IBC is maintainable if the operational debt

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**Reasoning:** The NCLT considered the pleadings and documents on record and was convinced that the

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**Interpretation:** Section 9 of the IBC allows an operational creditor to initiate CIRP against a

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**Application:** The NCLT found that the Operational Creditor had delivered a detailed notice on

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## Parties

- **Judges:** Rohit K…; Harish Chander…; +1 more
- **Appellants:** Radico Khaitan…
- **Respondents:** Concept Bioscience…

## Timeline

- **2019-08-01 — Supply of…**: The Corporate Debtor placed purchase orders and the Operational Creditor supplied pharma…
- **2019-10-24 — Date of D…**: The Operational Creditor claimed the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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