# In the matter of SV Leathers (India) Private Limited (IB)-427(ND)2022

> NCLT judgment dated 2023-04-25. Citation: TCN-2023-NCLT-03634. M/s Shudh Priya Plastichem Private Limited, the Applicant/Operational Creditor, filed a…

- **Court:** NCLT
- **Order date:** 25 Apr 2023
- **Citation:** TCN-2023-NCLT-03634
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sv-leathers-india-private-limited-ib-427nd2022-1feb69d2

## Summary

### Background

M/s Shudh Priya Plastichem Private Limited, the Applicant/Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process against M/s. SV Leathers (India) Private Limited, the Respondent. The claim arises from invoices running from 2013 to 2021.

## Facts

M/s Shudh Priya Plastichem Private Limited (Applicant/Operational Creditor) initiated a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s SV Leathers (India) Private Limited (Respondent), seeking to initiate the Corporate Insolvency Resolution Process. The Applicant's claim is based on invoices issued between 2013-12-12 and 2021-06-22. The Applicant contended that the Respondent made regular part-payments, but failed to provide a complete bank statement to support this claim. The Applicant provided dispatch proof of the demand notice but did not provide a tracking report to confirm its delivery to the Respondent. The Respondent is a company incorporated on 2010-12-27. The authorized share capital of the respondent is Rs. 10,00,000/- and

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## Issues and analysis

### Issue 1: Whether the Applicant has sufficiently demonstrated the service of the Demand Notice to the …

**Ratio:** The Insolvency and Bankruptcy Code requires the Operational Creditor to prove that a

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**Reasoning:** The court observed that the Applicant provided dispatch proof of the demand notice but

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**Interpretation:** The court interpreted the requirement of serving a demand notice as a mandatory

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**Application:** The court applied the ratio to the facts by directing the Applicant to file the

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## Parties

- **Judges:** Sh. Ashok Kumar…; L. N. G…
- **Appellants:** M/s Shudh Priya…
- **Respondents:** M/s SV Leathers…

## Timeline

- **2010-12-27 — Respondent Inco…**: M/s SV Leathers (India)…
- **2013-12-12 — Invoice Perio…**: Start date of the…

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