# In the matter of Viratra Export Private Limited

> NCLT judgment dated 2023-04-12. Citation: TCN-2023-NCLT-03847. The operational creditor filed an application under Section 9 of the IBC to initiate CIRP…

- **Court:** NCLT
- **Order date:** 12 Apr 2023
- **Citation:** TCN-2023-NCLT-03847
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/viratra-export-private-limited-81b9069c

## Summary

### Background

The operational creditor filed an application under Section 9 of the IBC to initiate CIRP against the corporate debtor for non-payment of operational dues.

## Facts

M/s Tushar Tradelink Private Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicatory Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Viratra Export Private Limited, the corporate debtor. The alleged default was for non-payment of operational dues amounting to Rs. 10,88,408/-. The corporate debtor approached the applicant on June 12, 2018, to purchase various mango wood planks for Rs. 4,67,904/-. The applicant delivered the goods on June 21, 2018, and June 26, 2018. The applicant received Rs. 50,000/- on July 17, 2018, and post-dated cheques for the remaining payments. Two cheques,

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor under Section 9 of the IBC is complete …

**Ratio:** An application under Section 9 of the IBC is admissible if it is filed within the

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**Reasoning:** The Adjudicating Authority perused the relevant papers and found that the application was

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**Interpretation:** The court interpreted the **Laws of Limitation** to mean that the application,

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**Application:** The application was deemed timely as the period of three years after the

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## Parties

- **Judges:** Deep Chandr…; Prasanta Kumar…
- **Appellants:** M/s Tushar…
- **Respondents:** M/s Viratra…
- **Advocates:** For the Applicant:…; CS.…; +1 more

## Timeline

- **June 12, 2018 — Order pl…**: Corporate Debtor approached Applicant to…
- **June 21, 2018 — Goods del…**: Applicant delivered…

## 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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