# In the matter of Greeneries Agro Private Limited

> NCLT judgment dated 2023-12-13. Citation: TCN-2023-NCLT-00255. 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-00255
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/greeneries-agro-private-limited-c52158d5

## 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 the Corporate Insolvency Resolution Process (CIRP) against M/S Greeneries Agro Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for imported fresh fruits supplied since September 2016. The application was filed due to the non-payment of an outstanding amount of Rs. 17,33,850/-. The Corporate Debtor was set ex parte due to their continuous non-appearance throughout the adjudication proceedings.

## Facts

M/S R.B Impex, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Greeneries Agro Private Limited, a corporate debtor. The operational creditor had been supplying imported fresh fruits to the corporate debtor since September 2016, based on purchase orders received via WhatsApp. A running account was maintained for these transactions. As of September 20, 2019, the corporate debtor owed Rs. 17,33,850/- to the operational creditor. The corporate debtor defaulted on this payment. The operational creditor issued three cheques towards part payment, which were dishonored due to 'Funds Insufficient' and 'Stop Payment'. A demand notice was issued on

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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 owed by the Corporate Debtor to the Operational Creditor

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**Interpretation:** The term 'operational debt' is interpreted broadly to include any claim related

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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 — Outstanding…**: Corporate Debtor owes Rs.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(21) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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