# In the matter of Manav Greys Exim Private Limited

> NCLT judgment dated 2024-05-17. Citation: TCN-2024-NCLT-01309. The case involves a Company Petition filed by Anchal Chopra, the Operational Creditor, under…

- **Court:** NCLT
- **Order date:** 17 May 2024
- **Citation:** TCN-2024-NCLT-01309
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/manav-greys-exim-private-limited-b77b2fc2

## Summary

### Background

The case involves a Company Petition filed by Anchal Chopra, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Manav Greys Exim Private Limited, the Corporate Debtor. The Operational Creditor claimed an operational debt of Rs. 1,16,25,000/- based on unpaid invoices for services rendered from June 2019 to December 2021. A demand notice dated June 21, 2023, was sent to the Corporate Debtor but received no reply or payment. The date of default is stated as February 15, 2023.

## Facts

Anchal Chopra, the Operational Creditor, filed a Company Petition against Manav Greys Exim Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed an operational debt of Rs. 1,16,25,000/- for services provided between June 2019 and December 2021. The Corporate Debtor hired the Operational Creditor as a sales consultant via a letter of appointment dated May 20, 2019, with a monthly salary of Rs. 3,75,000/-. The Operational Creditor raised invoices, which were not cleared by the Corporate Debtor. A demand notice dated June 21, 2023, was sent, but no reply or payment was made. The date of default is stated as February 15, 2023. The Corporate Debtor issued two cheques, each for Rs. 50,00,000/-,

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted on the …

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

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**Reasoning:** The NCLT found that the Operational Creditor had provided services for which invoices

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**Interpretation:** The existence of unpaid invoices and the Corporate Debtor's admission of debt,

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**Application:** The facts show that the Corporate Debtor failed to pay the Operational Creditor

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## Parties

- **Judges:** Madhu S…; Reeta K…
- **Appellants:** Anchal C…
- **Respondents:** Manav Greys Exim…
- **Advocates:** IndrajeetH…; Prakhar T…

## Timeline

- **2019-05-20 — Appointment…**: Corporate Debtor hired Operational…
- **2019-06-01 — Effective Date of…**: Operational Creditor's…

## 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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