# M/S Sai Kripa Indenting vs. Sneh Exports Private Limited

> NCLT judgment dated 2026-07-24. Citation: TCN-2026-NCLT-00628. M/S Sai Kripa Indenting (Operational Creditor), a proprietary firm through Mrs. Deepali…

- **Court:** NCLT
- **Order date:** 24 Jul 2026
- **Citation:** TCN-2026-NCLT-00628
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-jaipur/ms-sai-kripa-indenting-vs-sneh-exports-private-limited-8eo37

## Summary

### Background

M/S Sai Kripa Indenting (Operational Creditor), a proprietary firm through Mrs. Deepali Wadhwani, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Sneh Exports Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The petition sought to recover an operational debt of Rs. 74,34,62,189.07/- due to default in payment for polymer goods supplied between 03.03.2025 and 28.01.2026. The default commenced on 18.04.2025. Demand notices were issued, and the Corporate Debtor's Director, Mr. Vishal Bansal, admitted inability to pay for six months.

## Facts

M/S Sai Kripa Indenting, a proprietary firm through Mrs. Deepali Wadhwani, filed a petition under Section 9 of the IBC, 2016, against Sneh Exports Private Limited.

The petition sought to initiate Corporate Insolvency Resolution Process (CIRP) against Sneh Exports Private Limited (Corporate Debtor).

The outstanding operational debt claimed was Rs. 74,34,62,189.07/- as on 18.04.2025.

M/S Sai Kripa Indenting is engaged in the business of supplying polymer products.

Sneh Exports Private Limited approached the Petitioner for purchasing polymer goods for its business operations.

The Petitioner supplied goods and raised 368 tax invoices between 03.03.2025 and 28.01.2026, with agreed credit terms of 45 days from the invoice date.

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## Issues and analysis

### Issue 1: Whether there is an "operational …

**Ratio:** An operational debt exists when there is a claim in respect of the provision of goods or

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**Reasoning:** The Corporate Debtor received polymer products from the Petitioner against 368 invoices.

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**Interpretation:** Section 5(21) of the IBC defines "operational debt" as a claim in

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**Application:** The supply of polymer products by M/S Sai Kripa Indenting to Sneh Exports

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## Parties

- **Judges:** Reeta K…; Kavita Bha…
- **Appellants:** M/S SAI KRIPA…; Deepali Wa…
- **Respondents:** Sneh Exports…
- **Other parties:** Committee of…; Vishal B…; +3 more
- **Advocates:** Sanket Jain…; Abhirup Dasgupta,…; +2 more

## Timeline

- **2023-11-09 — Corporate Debtor…**: Sneh Exports Private Limited was…
- **2025-03-03 — Start of Good…**: Petitioner began supplying…

## 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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