# In the matter of Dhruv Wellness Limited

> NCLT judgment dated 2025-02-18. Citation: TCN-2025-NCLT-00470. The case involves a Company Petition (IB)-286(MB)/2024 filed by Deepak Kalananad Jha…

- **Court:** NCLT
- **Order date:** 18 Feb 2025
- **Citation:** TCN-2025-NCLT-00470
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dhruv-wellness-limited-1221d8dc

## Summary

### Background

The case involves a Company Petition (IB)-286(MB)/2024 filed by Deepak Kalananad Jha (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Dhruv Wellness Limited (Corporate Debtor). The petition concerns a default in repayment of an outstanding debt of Rs. 4,08,81,916/- as of 28.03.2024. The Operational Creditor supplied products to the Corporate Debtor based on a purchase order, but the Corporate Debtor failed to remit full payment despite accepting the delivered products and invoices.

## Facts

The Operational Creditor, Deepak Kalananad Jha, a sole proprietor dealing in cosmetics and general items, supplied products to the Corporate Debtor, Dhruv Wellness Limited, a listed company, based on a purchase order dated 15.03.2019. The total value of the supplied products, evidenced by 36 invoices and delivery challans, amounted to Rs. 5,81,22,064/-. However, the Corporate Debtor only remitted Rs. 1,72,40,148/-. The Operational Creditor issued a letter dated 31.05.2019, discontinuing further supply due to non-payment. The Corporate Debtor made partial payments totaling Rs. 3,67,534/-. The Corporate Debtor consistently confirmed the outstanding balances for the financial years ending 31.03.2020, 31.03.2021, and 31.03.2022. The Operational Creditor issued a demand

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor committed a …

**Ratio:** The legal principle is that if a corporate debtor fails to pay a debt that has become

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**Reasoning:** The NCLT examined the invoices, delivery challans, and ledger statements submitted by the

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**Interpretation:** The term 'default' is interpreted as the failure to pay a debt when it has

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**Application:** In this case, the Corporate Debtor failed to pay the outstanding amount for the

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## Parties

- **Judges:** Charanjeet Singh…; LAKSHMI G…
- **Appellants:** Deepak Kalananad…
- **Respondents:** Dhruv Wellness…

## Timeline

- **2019-03-15 — Purchase Ord…**: Purchase order issued by Corporate…
- **2019-03-21 — Invoices…**: Various invoices raised by the Operational Creditor during the period from 21.03.2019 to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8(1) — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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