# In the matter of NAVYA FASHIONS PRIVATE LIMITED

> NCLT judgment dated 2025-09-26. Citation: TCN-2025-NCLT-01453. The case involves a petition filed by Amit Vyas, Proprietor of Avantika (Operational Creditor),…

- **Court:** NCLT
- **Order date:** 26 Sept 2025
- **Citation:** TCN-2025-NCLT-01453
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-jaipur/navya-fashions-private-limited-23c399a8

## Summary

### Background

The case involves a petition filed by Amit Vyas, Proprietor of Avantika (Operational Creditor), against Navya Fashions Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP).

## Facts

Amit Vyas, Proprietor of Avantika, filed a petition against Navya Fashions Private Limited under Section 9 of the IBC.

The claim amount is Rs. 1,38,92,705/- due to non-payment for the supply of yarn.

The Corporate Debtor admitted the default but requested 12 months to repay.

The Adjudicating Authority noted that the requested 12-month period had elapsed without any payment.

The last supply of yarn was made on 17.06.2023.

The Corporate Debtor sent a reply dated 24.07.2024 to the Demand Notice dated 18.07.2024 wherein it requested the Petitioner to co-operate in financial tough time and provide 12-month time to repay the principal dues.

The Petitioner issued a notice under Section 8 of the Code in Form-3 dated 18.07.2024.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted in payment of …

**Ratio:** The Corporate Debtor admitted the

…

**Reasoning:** The Corporate Debtor acknowledged the debt and expressed inability to pay due to

…

**Interpretation:** The admission of default by the Corporate Debtor establishes the existence of a

…

**Application:** The Adjudicating Authority relied on the Corporate Debtor's admission to

…

## Parties

- **Judges:** Reeta K…; Kavita Bha…
- **Appellants:** Amit…; Amit Vyas,…
- **Respondents:** Navya Fashions…
- **Other parties:** Vijendra…
- **Advocates:** Amol…; Abhishek P…

## Timeline

- **2007-10-23 — Incorpor…**: Navya Fashions Private Limited…
- **2023-06-17 — Last Supply…**: The last supply of yarn was…

## 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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