# In the matter of Shrinathji Business Venture Pvt. Ltd. CP No. (IB)-89-9-JPR-2020

> NCLT judgment dated 2022-02-18. Citation: TCN-2022-NCLT-04060. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 18 Feb 2022
- **Citation:** TCN-2022-NCLT-04060
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/shrinathji-business-venture-pvt-ltd-cp-no-ib-89-9-jpr-2020-59a95010

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Lalchand Saini Prop. of M/s Lal Chand Saini Sanitary and Pipe Fitting Contractor, an operational creditor, against Shrinathji Business Venture Pvt. Ltd., the corporate debtor. The operational creditor filed the application due to unpaid dues. The corporate debtor did not appear during the proceedings.

## Facts

Lalchand Saini Prop. of M/s Lal Chand Saini Sanitary and Pipe Fitting Contractor, an operational creditor, filed a CP application (CP No. (IB)- 89/9/JPR/2020) under Section 9 of the IBC, 2016, against Shrinathji Business Venture Pvt. Ltd., the corporate debtor, for unpaid dues. The corporate debtor did not appear in the proceedings. The counsel for the petitioner submitted that CIRP had already been initiated against the corporate debtor in CP No. (IB)- 161/7/JPR/2020 (Arti Kanoongo & Ors. Vs. Shrinathji Business Venture Pvt. Ltd.) vide order dated 23.12.2021. The court considered this information and directed the operational creditor/petitioner to submit their claim before the IRP/RP who shall consider the same.

## Issues and analysis

### Issue 1: Whether the operational creditor's claim should be considered in light of the already initiated …

**Ratio:** When a CIRP has already been initiated against a corporate debtor, any further claims

…

**Reasoning:** The court reasoned that since a CIRP was already in progress against Shrinathji Business

…

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

…

**Application:** The court applied this principle by directing Lalchand Saini, the operational

…

## Parties

- **Judges:** Deep Chandr…; RaghuNa…
- **Appellants:** Lalchand Saini…
- **Respondents:** Shrinathji…

## Timeline

- **2020-01-01 — CP No. (IB)- 89/9/JPR/20…**: CP No. (IB)- 89/9/JPR/2020 filed by Lalchand Saini Prop. of M/s Lal Chand Saini Sanitary…
- **2021-12-23 — Order for CIRP…**: Order passed in CP No. (IB)- 161/7/JPR/2020 (Arti Kanoongo & Ors. Vs. Shrinathji Business…

## 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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