# In the matter of RAISEN MARKETING PRIVATE LIMITED

> NCLT judgment dated 2026-01-30. Citation: TCN-2026-NCLT-00085. M/s Delhi Liquors filed a Company Petition (IB) No. 25 of 2024 under Section 9 of the…

- **Court:** NCLT
- **Order date:** 30 Jan 2026
- **Citation:** TCN-2026-NCLT-00085
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/raisen-marketing-private-limited-c679dd47

## Summary

### Background

M/s Delhi Liquors filed a Company Petition (IB) No. 25 of 2024 under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Raisen Marketing Private Limited, on account of default in payment of operational debt amounting to Rs.12,24,75,104.69/- as on 31.01.2024.

## Facts

M/s Delhi Liquors filed a petition under Section 9 of the IBC seeking initiation of CIRP against Raisen Marketing Private Limited.

The operational debt claimed was Rs.12,24,75,104.69/- as on 31.01.2024.

The Operational Creditor is a joint venture entity with a valid L-1 wholesale license.

Raisen Marketing Private Limited is a company incorporated under the Companies Act, 1956.

The Corporate Debtor made intermittent payments amounting to Rs.8,50,00,000/-.

The Operational Creditor issued a legal notice dated 10.01.2023 and a statutory demand notice dated 10.02.2024.

The Corporate Debtor contended that the Applicant is not a 'person' under Section 3(23) of the Code and that there is no written agreement stipulating payment terms.

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## Issues and analysis

### Issue 1: Whether operational debt exists and …

**Ratio:** The Corporate Debtor has admittedly made payments amounting to 8.50 crore, which itself

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**Reasoning:** Documentary evidence including tax invoices, ESCIMS portal acknowledgements, delivery

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**Interpretation:** The Tribunal interpreted the evidence to mean that operational debt exists and

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**Application:** The Tribunal applied the provisions of Section 4 of the Code to determine that

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## Parties

- **Judges:** Mohan P.…; SANJEEV S…
- **Appellants:** M/s Delhi L…
- **Respondents:** Raisen Marketing…; Raisen Marketing…
- **Other parties:** Amrish Kumar…
- **Advocates:** Sunil Fer…; Abhishek…; +2 more

## Timeline

- **2024-04-12 — Filing of P…**: Company Petition filed on…
- **2026-01-30 — Order Del…**: Order delivered on…

## 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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