# Maa Annapurna Traders vs. Socrus Pharmaceuticals Ltd

> NCLT judgment dated 2026-08-04. Citation: TCN-2026-NCLT-00784. Maa Annapurna Traders (Operational Creditor) filed an application under Section 9 of the IBC…

- **Court:** NCLT
- **Order date:** 4 Aug 2026
- **Citation:** TCN-2026-NCLT-00784
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/maa-annapurna-traders-vs-socrus-pharmaceuticals-ltd-276o0

## Summary

### Background

Maa Annapurna Traders (Operational Creditor) filed an application under Section 9 of the IBC against Socrus Pharmaceuticals Ltd (Corporate Debtor) for default in payment of operational debt. The debt arose from the supply of Dollar Chana (Chickpeas) worth Rs. 1,41,60,000/-. Payment was due within 20 days of delivery, with 24% interest for delays. A demand notice was issued, and the Corporate Debtor acknowledged the liability but sought a waiver of interest and proposed settlement in instalments. The Corporate Debtor also disclosed its own pending Section 10 application for CIRP.

## Facts

Maa Annapurna Traders (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Socrus Pharmaceuticals Ltd (Corporate Debtor).

The application seeks initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt.

The Operational Creditor is engaged in the business of trading and supply of Dollar Chana (Chickpeas).

A Purchase Contract dated 15.03.2024 was executed between the parties.

The Operational Creditor supplied Dollar Chana (Chickpeas) to the Corporate Debtor in April 2024.

Five invoices aggregating to Rs. 1,41,60,000/- were raised on 06.04.2024 and 07.04.2024.

…

## Issues and analysis

### Issue 1: Whether an operational debt exceeding the …

**Ratio:** The amount claimed, arising from the supply of goods (Dollar Chana/Chickpeas) by the

…

**Reasoning:** The goods were supplied pursuant to a purchase contract, and invoices were raised. The

…

**Interpretation:** "Operational debt" includes claims arising from the provision of

…

**Application:** The supply of Dollar Chana by Maa Annapurna Traders to Socrus Pharmaceuticals

…

## Parties

- **Judges:** Brajendra Mani…; Man Mohan…
- **Appellants:** Maa Annapurna…
- **Respondents:** Socrus Pharmaceuti…; Socrus Pharmaceuti…
- **Other parties:** Directors of…; Kuldeep…; +1 more
- **Advocates:** Mayur Singh…; Ritesh Kumar…

## Timeline

- **2024-03-15 — Purchase Contract…**: A Purchase Contract was executed between Maa Annapurna Traders and Socrus Pharmaceuticals…
- **2024-04 — Goods Su…**: Maa Annapurna Traders supplied Dollar Chana…

## 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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