# In the matter of Greeneries Agro Private Limited

> NCLT judgment dated 2023-12-13. Citation: TCN-2023-NCLT-00267. The case originates from an application filed by M/S R.B Impex, the Operational Creditor, under…

- **Court:** NCLT
- **Order date:** 13 Dec 2023
- **Citation:** TCN-2023-NCLT-00267
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/greeneries-agro-private-limited-31fc191d

## Summary

### Background

The case originates from an application filed by M/S R.B Impex, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Greeneries Agro Private Limited, the Corporate Debtor, due to unpaid operational debt. The Operational Creditor claimed to have been supplying imported fresh fruits to the Corporate Debtor since September 2016. The Ministry of Corporate Affairs (Mumbai) was wrongly arrayed as a party.

## Facts

M/S R.B Impex (Operational Creditor) filed an application to initiate CIRP against M/S Greeneries Agro Private Limited (Corporate Debtor) under Section 9 of the IBC, claiming an operational debt of Rs. 17,33,850/-. The debt arose from the supply of imported fresh fruits since September 2016, with purchase orders received via WhatsApp. The Operational Creditor maintained a running account for these transactions. As of 20.09.2019, the Corporate Debtor owed Rs. 17,33,850/-. The Corporate Debtor issued three cheques totaling Rs. 13,12,700/- towards part payment, but all were dishonored. A demand notice was issued on 09.10.2019, returned undelivered, and a fresh notice was issued on 02.11.2019, which was received by the Corporate Debtor on 07.11.2019. The Corporate Debtor

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## Issues and analysis

### Issue 1: Whether the debt of Rs.17,33,850/- owed by the Corporate Debtor to the Operational Creditor falls …

**Ratio:** Section 5(21) of the Insolvency and Bankruptcy Code, 2016 defines 'operational debt' as a

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**Reasoning:** The court found that the debt arose from the supply of imported fresh fruits by the

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**Interpretation:** The term 'operational debt' is interpreted broadly to include debts arising

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**Application:** The court applied the definition of 'operational debt' to the facts of the

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## Parties

- **Judges:** K. R. SAJI…; SANJIV…
- **Appellants:** M/S R.B…
- **Respondents:** M/S GREENERIES…

## Timeline

- **2016-09-01 — Supply of Fruits…**: Operational Creditor starts supplying…
- **2019-09-20 — Outstandin…**: Corporate Debtor owes Rs.…

## 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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