# In the matter of Samarpan Viniyog Private Limited CP(IB) No. 691-KB-2020

> NCLT judgment dated 2022-07-20. Citation: TCN-2022-NCLT-04576. High Growth Consultants Private Limited filed a petition under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 20 Jul 2022
- **Citation:** TCN-2022-NCLT-04576
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/samarpan-viniyog-private-limited-cpib-no-691-kb-2020-c0aad383

## Summary

### Background

High Growth Consultants Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Samarpan Viniyog Private Limited, based on an unpaid operational debt.

## Facts

High Growth Consultants Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Samarpan Viniyog Private Limited (Corporate Debtor).

The Operational Creditor claimed that the Corporate Debtor owed ₹5,50,000/- plus interest at 18% per annum for a Detailed Project Report (DPR) prepared for the Varanasi Cruise Project.

The Corporate Debtor admitted to issuing a work order for the DPR and that a consolidated price of ₹5,50,000/- was agreed upon.

The Corporate Debtor claimed that the project could not be taken off due to unavoidable circumstances and that it was not in a position to pay the outstanding debts.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor is …

**Ratio:** The Adjudicating Authority found that the Corporate Debtor was not insolvent and was

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**Reasoning:** The Adjudicating Authority considered the Corporate Debtor's financial standing,

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**Interpretation:** The Adjudicating Authority interpreted the purpose of the Code as being to

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**Application:** The Adjudicating Authority applied this interpretation to the facts of the case

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## Parties

- **Judges:** RohitKa…; Balraj…
- **Appellants:** High Growth…
- **Respondents:** Samarpan Viniyog…
- **Advocates:** Rishav Ba…; Sanjib…; +1 more

## Timeline

- **2019-04-20 — Work Orde…**: Corporate Debtor placed an order for…
- **2019-05-14 — DPR Submi…**: Operational Creditor submitted…

## 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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