# In the matter of Additri Traders Pvt. Ltd.

> NCLT judgment dated 2023-06-15. Citation: TCN-2023-NCLT-05450. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 15 Jun 2023
- **Citation:** TCN-2023-NCLT-05450
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/additri-traders-pvt-ltd-de75bc07

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Katyayan Mercantile and Trading Pvt Ltd (Operational Creditor) against Additri Traders Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt.

## Facts

Katyayan Mercantile and Trading Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Additri Traders Private Limited (Corporate Debtor).

The Operational Creditor supplied goods to the Corporate Debtor in March 2019.

The Corporate Debtor defaulted on a payment of Rs. 41,01,360/-.

The Operational Creditor sent reminders and a demand notice to the Corporate Debtor.

The Corporate Debtor acknowledged the debt in a Balance Confirmation Letter dated 04.04.2019.

The Corporate Debtor sought time for repayment but failed to honor its commitment.

The Corporate Debtor remained ex-parte during the proceedings.

The NCLT Mumbai Bench admitted the petition and initiated CIRP against the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether there was an operational debt due and payable by the Corporate Debtor to the Operational …

**Ratio:** Yes, based on the purchase order, invoices, and the Corporate Debtor's acknowledgment of

…

**Reasoning:** The Operational Creditor provided evidence of the supply of goods and the corresponding

…

**Interpretation:** The evidence presented established the existence of an operational debt as

…

**Application:** The NCLT relied on the documentary evidence and the Corporate Debtor's

…

## Parties

- **Judges:** Anu Jagmoha…; H.V. Subb…
- **Appellants:** Katyayan Mercantil…
- **Respondents:** Additri Traders…; Additri Traders…
- **Other parties:** Sachin…
- **Advocates:** Bindu Bh…

## Timeline

- **2019-03-01 — Supply of…**: The Operational Creditor supplied material…
- **2019-03-27 — Purchase Ord…**: Purchase order dated 27.03.2019 is…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-mumbai/additri-traders-pvt-ltd-de75bc07