# In the matter of Vittal Cashew Industries Private Limited

> NCLT judgment dated 2026-01-07. Citation: TCN-2026-NCLT-00005. Voyager Trading Partners LLC filed a petition under Section 9 of the IBC, 2016, against Vittal…

- **Court:** NCLT
- **Order date:** 7 Jan 2026
- **Citation:** TCN-2026-NCLT-00005
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/vittal-cashew-industries-private-limited-9be39037

## Summary

### Background

Voyager Trading Partners LLC filed a petition under Section 9 of the IBC, 2016, against Vittal Cashew Industries Pvt. Ltd. for initiating CIRP due to unpaid operational debt.

## Facts

Voyager Trading Partners LLC (Operational Creditor) filed a petition under Section 9 of the IBC against Vittal Cashew Industries Pvt. Ltd. (Corporate Debtor) on 20.11.2025.

The Operational Creditor claimed a default amount of USD 363,452.00 (equivalent to Rs. 3,22,63,634/-) as of 15th October 2025.

The Corporate Debtor acknowledged its liability and made part payments totaling USD 260,000 between March and July 2025.

The Corporate Debtor cited a slowdown in demand and a shortfall in liquidity as reasons for the delay in payment.

The Corporate Debtor submitted that the actual outstanding amount payable was USD 228,696 after adjusting for payments.

The Corporate Debtor claimed that the Operational Creditor had arbitrarily added USD 94,756 to the claimed amount.

…

## Issues and analysis

### Issue 1: Whether the petition under Section 9 of the IBC is maintainable given the Corporate Debtor's claim …

**Ratio:** A petition under Section 9 cannot be admitted where the very existence or quantum of the

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**Reasoning:** The Corporate Debtor claimed that the default amount was inflated and that there was a

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**Interpretation:** The Adjudicating Authority interpreted the evidence to show that the Corporate

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**Application:** The Adjudicating Authority rejected the Corporate Debtor's claim of a

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## Parties

- **Judges:** Vinay…
- **Appellants:** Voyager Trading…
- **Respondents:** Vittal Cashew…
- **Other parties:** Primus Insolvency…; Neha Bh…
- **Advocates:** Isaac T…; Anandakri…

## Timeline

- **2025-11-20 — Petition…**: Voyager Trading Partners LLC filed a petition under Section 9 of the IBC against Vittal…
- **2025-12-02 — Notice I…**: Tribunal directed the issuance of notice to…

## 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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