# In the matter of Dharitrimaa Urja Private Limited IB-408-ND-2022

> NCLT judgment dated 2023-06-09. Citation: TCN-2023-NCLT-03017. The case involves an application filed under Section 9 of the Insolvency & Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 9 Jun 2023
- **Citation:** TCN-2023-NCLT-03017
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dharitrimaa-urja-private-limited-ib-408-nd-2022-0849241c

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, by Ram Ratan Jagati, the sole proprietor of JJ Trading FZE (Operational Creditor), to initiate the Corporate Insolvency Resolution Process (CIRP) against Dharitrimaa Urja Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied, specifically crude palm oil. The Corporate Debtor is registered with ROC, NCT of Delhi & Haryana.

## Facts

Ram Ratan Jagati, the sole proprietor of JJ Trading FZE, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dharitrimaa Urja Private Limited. The Operational Creditor (JJ Trading FZE) is engaged in the business of production of ferrous and non-ferrous products, while the Corporate Debtor (Dharitrimaa Urja Private Limited) is engaged in the business of trading of metal scrap and crude palm oil. The Corporate Debtor approached the Operational Creditor for the supply of various materials, including crude palm oil, and placed orders. A total of seven transactions occurred between the parties. The Corporate Debtor made payments for six invoices, but one invoice dated

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## Issues and analysis

### Issue 1: Whether this petition is …

**Ratio:** An application under Section 9 of the Code, 2016 would not be barred by limitation if

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**Reasoning:** The Corporate Debtor acknowledged the debt in its reply to the demand notice dated

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**Interpretation:** The acknowledgement of debt by the Corporate Debtor within the initial

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**Application:** In this case, the Corporate Debtor acknowledged the debt on 19.11.2021. The

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## Parties

- **Judges:** BACHU VENKAT…; ATUL CHAT…
- **Appellants:** Ram Ratan…
- **Respondents:** Dharitrimaa Urja…
- **Advocates:** Lakshay D…; Sahil D…; +2 more

## Timeline

- **2015-11-18 — Invoice…**: Date of the unpaid…
- **2017-10-25 — Last Payment…**: The Operational Creditor received the…

## 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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