# In the matter of Vivacious Pharmatex Private Limited

> NCLT judgment dated 2024-05-17. Citation: TCN-2024-NCLT-01311. Rajdeep Cans Private Limited, the Operational Creditor, filed a Company Petition seeking to…

- **Court:** NCLT
- **Order date:** 17 May 2024
- **Citation:** TCN-2024-NCLT-01311
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vivacious-pharmatex-private-limited-ea47bd47

## Summary

### Background

Rajdeep Cans Private Limited, the Operational Creditor, filed a Company Petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Vivacious Pharmatex Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim is based on an operational debt of Rs. 3,36,323.48/-, including interest at 18% from 11.08.2017 to 10.02.2020, with the date of default stated as 11.08.2017. A demand notice dated 07.05.2019 was served on the Corporate Debtor, but no reply or payment was made.

## Facts

Rajdeep Cans Private Limited (Operational Creditor) is a manufacturer of tins. Vivacious Pharmatex Private Limited (Corporate Debtor) placed orders for different types of tins. The Operational Creditor supplied the tins in perfect condition, and invoice No. GST 44 dated 12.07.2017 for Rs. 3,36,323.48/- was raised. Another invoice, GST 14, was also raised for a separate order. The Corporate Debtor failed to make payments and did not respond to the Operational Creditor. A demand notice dated 07.05.2019 was issued under Section 8 of the Code, but the Corporate Debtor failed to respond or make payment. The Operational Creditor also presented NESL report and bank statements showing no credit entry from the Corporate Debtor between 11.08.2017 and 04.02.2020. The date of

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## Issues and analysis

### Issue 1: Whether the Operational Creditor established the existence of an operational debt and a default by …

**Ratio:** The legal principle applied is that if an operational creditor can demonstrate the

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**Reasoning:** The court reasoned that the Operational Creditor provided sufficient evidence, including

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**Interpretation:** The interpretation of Section 9 involves assessing whether the operational

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**Application:** In this case, the Operational Creditor presented invoices and a demand notice,

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## Parties

- **Judges:** Madhu S…; Reeta K…
- **Appellants:** Rajdeep Cans…
- **Respondents:** Vivacious…

## Timeline

- **2017-07-12 — Invoice…**: Invoice No. GST 44 was…
- **2017-08-11 — Date of D…**: The date of default is…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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