# In the matter of Hanson Petro Private Limited CP (IB) No. 282-Chd-Pb-2019

> NCLT judgment dated 2023-04-20. Citation: TCN-2023-NCLT-03690. The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 20 Apr 2023
- **Citation:** TCN-2023-NCLT-03690
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/hanson-petro-private-limited-cp-ib-no-282-chd-pb-2019-7358585e

## Summary

### Background

The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed by Puneet Paints & Chemicals, the Operational Creditor, against Hanson Petro Private Limited, the Corporate Debtor. The petition was filed before the National Company Law Tribunal (NCLT), Chandigarh Bench.

## Facts

Puneet Paints & Chemicals, the Operational Creditor, filed a petition against Hanson Petro Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. Prior to this petition, CIRP had already been initiated against Hanson Petro Private Limited in CP (IB) No. 277/Chd/Pb/2019. The court noted the prior CIRP initiation and its impact on the present petition.

## Issues and analysis

### Issue 1: Whether the present petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, is …

**Ratio:** When CIRP has already been initiated against a Corporate Debtor, a subsequent petition

…

**Reasoning:** The court reasoned that since CIRP had already been initiated against Hanson Petro

…

**Interpretation:** The interpretation is that once CIRP is initiated, all claims against the

…

**Application:** The court applied the ratio to the facts by noting that CIRP had already been

…

## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Puneet Paints &…
- **Respondents:** Hanson Petro…

## Timeline

- **2019-01-01 — CIRP Init…**: CIRP initiated against Hanson Petro Private…
- **2019-01-01 — Petition…**: Puneet Paints & Chemicals filed a petition against Hanson Petro Private Limited under…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/hanson-petro-private-limited-cp-ib-no-282-chd-pb-2019-7358585e