# In the matter of Eagle Corporation Pvt. Ltd. CP(IB) 44 of 2018

> NCLT judgment dated 2022-04-18. Citation: TCN-2022-NCLT-03252. The case pertains to an order under Section 9 of the Insolvency and Bankruptcy Code (IBC). VE…

- **Court:** NCLT
- **Order date:** 18 Apr 2022
- **Citation:** TCN-2022-NCLT-03252
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/eagle-corporation-pvt-ltd-cpib-44-of-2018-3819896b

## Summary

### Background

The case pertains to an order under Section 9 of the Insolvency and Bankruptcy Code (IBC). VE Commercial Vehicles Ltd is the applicant, and Eagle Corporation Pvt Ltd is the respondent. The order was delivered on April 18, 2022. The IBBI was directed to file a report as per the order dated February 17, 2022, which is still awaited. The case is listed on May 10, 2022.

## Facts

VE Commercial Vehicles Ltd filed an application against Eagle Corporation Pvt Ltd under Section 9 of the IBC. The National Company Law Tribunal (NCLT), Ahmedabad, Court - 2, heard the matter. The court directed the IBBI to file a report based on an order dated February 17, 2022. As of April 18, 2022, the report was still awaited. The case was listed for further hearing on May 10, 2022. The relevance of these facts is that they outline the initial steps in an insolvency resolution process initiated by an operational creditor against a corporate debtor.

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC filed by VE Commercial Vehicles Ltd against …

**Ratio:** Section 9 of the IBC allows an operational creditor to initiate a corporate insolvency

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**Reasoning:** The court's reasoning is not explicitly stated in the document, but the acceptance of the

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**Interpretation:** Section 9 is interpreted to provide a mechanism for operational creditors to

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**Application:** The application of Section 9 is evident in the court's acceptance of the case

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## Parties

- **Judges:** DEEPTI M…; Ajai Das Me…
- **Appellants:** VE Commercial…
- **Respondents:** Eagle Corporation…
- **Advocates:** Pratik Th…; Garima Ma…; +1 more

## Timeline

- **2022-02-17 — Order Da…**: IBBI was directed to…
- **2022-04-18 — Order Del…**: Order delivered on this…

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