# In the matter of JMS Logistics and Express Pvt. Ltd. CP (IB) No.09-MB-IV-2021

> NCLT judgment dated 2023-06-06. Citation: TCN-2023-NCLT-03055. The case involves a petition filed by M/s Index Logistics Private Limited (Operational…

- **Court:** NCLT
- **Order date:** 6 Jun 2023
- **Citation:** TCN-2023-NCLT-03055
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jms-logistics-and-express-pvt-ltd-cp-ib-no09-mb-iv-2021-74756daf

## Summary

### Background

The case involves a petition filed by M/s Index Logistics Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s JMS Logistics and Express Pvt Ltd (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 6,92,30,281/-. The Corporate Debtor argued that the debt was time-barred and the petition violated Section 10A of the IBC.

## Facts

M/s Index Logistics Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s JMS Logistics and Express Pvt Ltd (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 6,92,30,281/- (including interest at 18%). The petition was filed on 20/11/2020. The Corporate Debtor had approached the Operational Creditor in June 2016 expressing willingness to do business. The Corporate Debtor, in an email dated 27.08.2020, admitted a debt liability of Rs. 5,22,58,376/-. The Corporate Debtor issued cheques for Rs. 50,00,000/- which were dishonored due to insufficient funds. The

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## Issues and analysis

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

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

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**Reasoning:** The NCLT found that the Corporate Debtor had defaulted on payments to the Operational

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**Interpretation:** Section 9 provides a mechanism for operational creditors to recover their dues

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**Application:** The NCLT applied Section 9 to the facts of the case, finding that the

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** M/s INDEX…
- **Respondents:** M/s JMS Logistics…

## Timeline

- **2016-06-01 — Corporate Debtor…**: M/s JMS Logistics and Express Pvt Ltd. approached M/s Index Logistics Private Limited…
- **2020-10-15 — Demand Notice…**: The Operational Creditor issued a statutory…

## 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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