# In the matter of Hansraj Agrofresh Private Limited CP (IB) No. 377-ALD-2019

> NCLT judgment dated 2022-01-31. Citation: TCN-2022-NCLT-04329. The case involves a petition filed by Manjushree Technopack Limited, an Operational Creditor,…

- **Court:** NCLT
- **Order date:** 31 Jan 2022
- **Citation:** TCN-2022-NCLT-04329
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/hansraj-agrofresh-private-limited-cp-ib-no-377-ald-2019-93556071

## Summary

### Background

The case involves a petition filed by Manjushree Technopack Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Hansraj Agrofresh Private Limited, the Corporate Debtor, for failing to pay an outstanding amount of ₹13,00,225/-. The Operational Creditor had supplied Pet Preform to the Corporate Debtor between 05.02.2018 and 28.02.2018 and raised invoices. The Corporate Debtor made some payments, leaving a balance due. The petition was filed on 11.09.2019.

## Facts

Manjushree Technopack Limited (Operational Creditor) supplied Pet Preform to Hansraj Agrofresh Private Limited (Corporate Debtor) between 05.02.2018 and 28.02.2018. Invoices were raised, but the Corporate Debtor failed to make full payment. An amount of ₹15,99,930/- was due, of which ₹13,00,225/- remained outstanding as of 28.02.2018. The Operational Creditor filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, on 11.09.2019, seeking to initiate CIRP against the Corporate Debtor. The Corporate Debtor made some payments, adjusting ₹3,00,000/- against invoice no. AS01-FY18-00632. The last payment received was on 19.03.2019. The Corporate Debtor admitted to the pending dues in its reply affidavit filed on 13.01.2020, citing the company's shutdown

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## Issues and analysis

### Issue 1: Whether the petition filed by the Operational Creditor under Section 9 of the Insolvency and …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, allows an operational creditor to

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**Reasoning:** The Adjudicating Authority found that the petition was complete in all respects as

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**Interpretation:** Section 9 provides the framework for operational creditors to initiate CIRP,

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**Application:** The Operational Creditor's petition was deemed complete as it included

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## Parties

- **Judges:** Rajasekha…; Balraj…
- **Appellants:** Manjushree…
- **Respondents:** Hansraj Agrofresh…

## Timeline

- **2018-02-05 — Supply of Pet…**: Operational Creditor supplied Pet Preform to the Corporate Debtor between 05.02.2018 and…
- **2018-02-28 — Outstanding…**: Outstanding invoice dated 28.02.2018 amounting to ₹15,99,930/- out of which ₹13,00,225/-…

## 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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