# In the matter of Leonard Exports Private Limited C.P. (IB) No. 1400-KB-2019

> NCLT judgment dated 2022-06-16. Citation: TCN-2022-NCLT-04658. Dhanvridhi Polyfabs Private Limited filed a petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 16 Jun 2022
- **Citation:** TCN-2022-NCLT-04658
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/leonard-exports-private-limited-cp-ib-no-1400-kb-2019-fc4c3432

## Summary

### Background

Dhanvridhi Polyfabs Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Leonard Exports Private Limited, alleging failure to pay outstanding dues.

## Facts

Dhanvridhi Polyfabs Private Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016.

The petition sought to initiate CIRP against Leonard Exports Private Limited.

The Corporate Debtor allegedly failed to pay a sum of Rs.40,70,879/- to the Operational Creditor.

The Operational Creditor raised several invoices dated 24.09.2016, 20.10.2016, and 03.11.2016.

The Operational Creditor sent a notice in FORM 4 to the Corporate Debtor asking for clearance of outstanding dues, delivered on 06.06.2019.

The Corporate Debtor did not dispute the services provided or the outstanding dues after receiving the statutory notice.

The Adjudicating Authority found that the Corporate Debtor was in default of a debt exceeding Rupees one lakh.

…

## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the IBC is complete …

**Ratio:** The application was found to be complete

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**Reasoning:** The petition established that the Corporate Debtor was in default of a debt due and

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**Interpretation:** The Adjudicating Authority interpreted the requirements of Section 9 to be

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**Application:** The Adjudicating Authority applied the provisions of Section 9 and Rule 6(1) of

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## Parties

- **Judges:** RohitKa…; Harish Chander…
- **Appellants:** Dhanvridhi…
- **Respondents:** Leonard Exports…
- **Other parties:** Anal…
- **Advocates:** Jay Bhattac…

## Timeline

- **2019-08-21 — Filing of P…**: The present petition was filed on…
- **2021-12-09 — Ex-parte…**: The matter was directed to be proceeded…

## 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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