# In the matter of RKB Global Limited

> NCLT judgment dated 2024-01-24. Citation: TCN-2024-NCLT-02928. The case involves an application filed by Jaldhi Overseas Pte. Ltd. (Operational…

- **Court:** NCLT
- **Order date:** 24 Jan 2024
- **Citation:** TCN-2024-NCLT-02928
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/rkb-global-limited-9586a8c7

## Summary

### Background

The case involves an application filed by Jaldhi Overseas Pte. Ltd. (Operational Creditor/Petitioner) under Section 9 of the Insolvency & Bankruptcy Code, 2016, against RKB Global Limited (Corporate Debtor/Respondent) for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that it provided its vessel MV SUN LUCIA for carriage of cargo under a Charter Party dated 22.04.2019 for a voyage from Port Redi to Port Rizhao at the behest of the Corporate Debtor. After completing the voyage, the Operational Creditor raised an invoice dated 26.07.2019 for USD 424,191.13 for outstanding freight, demurrage, and anchorage dues. Despite a part payment of USD 34,285 made by the Corporate Debtor on 17.01.2020, a total outstanding amount of USD

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## Facts

Jaldhi Overseas Pte. Ltd. (Operational Creditor) provided its vessel MV SUN LUCIA to RKB Global Limited (Corporate Debtor) for cargo transport from Port Redi to Port Rizhao under a Charter Party dated 22.04.2019. After the voyage, the Operational Creditor issued an invoice on 26.07.2019 for USD 424,191.13 covering freight, demurrage, and anchorage. The Corporate Debtor made a partial payment of USD 34,285 on 17.01.2020, leaving a balance of USD 389,906. The Corporate Debtor initially acknowledged the debt in an email dated 09.03.2020, requesting a debit note for the balance. Later, the Corporate Debtor disputed the invoice, claiming involvement of Samruddha Resources and Tulip Polychem Private Limited. The Operational Creditor re-served a Form-3 demand notice on

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## Issues and analysis

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

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

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**Reasoning:** The court found that the Operational Creditor had provided sufficient evidence to

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

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**Application:** The court applied Section 9 to the facts of the case and found that the

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## Parties

- **Judges:** V.G. B…; Prabhat…
- **Appellants:** Jaldhi Overseas…
- **Respondents:** RKB Global…
- **Advocates:** Zal Andhya…; Revati…; +6 more

## Timeline

- **2019-04-22 — Charter Par…**: Charter Party agreement between Jaldhi Overseas Pte. Ltd. and RKB Global Limited for…
- **2019-07-26 — Invoice…**: Jaldhi Overseas Pte. Ltd. raised an invoice for USD 424,191.13 for outstanding freight,…

## 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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