# Shree Hari Yarns Private Ltd. vs. Ahuja Synfab Private Limited

> NCLT judgment dated 2026-10-05. Citation: TCN-2026-NCLT-01094. Shree Hari Yarns Private Ltd. (Operational Creditor) initiated Corporate Insolvency Resolution…

- **Court:** NCLT
- **Order date:** 5 Oct 2026
- **Citation:** TCN-2026-NCLT-01094
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/ahuja-synfab-private-limited-jqjjh

## Summary

### Background

Shree Hari Yarns Private Ltd. (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against Ahuja Synfab Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, alleging a default of Rs. 1,41,98,849/- for yarn supplied. The OC claimed the CD failed to pay the principal amount and interest on delayed payments as per invoices, and did not dispute the demand notices.

## Facts

CP (IB) No. 747/MB/2024 was filed on 27.09.2024 under Section 9 of the IBC, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.

Shree Hari Yarns Private Ltd. is the Operational Creditor (OC) and Ahuja Synfab Private Limited is the Corporate Debtor (CD).

The OC, through Mr. Ravi Shankar Panchloriya, Director, initiated CIRP against the CD.

The total alleged default amount is Rs. 1,41,98,849/- as of 20th April, 2024.

This amount comprises a principal of Rs. 1,10,42,055/- and interest of Rs. 31,56,794/-.

Eight unpaid invoices are annexed with the Petition, each containing a clause for 18% p.a. interest on delayed payment.

The record of default has been notified to the Information Utility.

…

## Issues and analysis

### Issue 1: Whether the Demand Notice issued by the Operational Creditor is valid despite the Corporate …

**Ratio:** A demand notice under Section 8 of IBC is valid if it clearly communicates the debt and

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**Reasoning:** The CD argued the demand notice and Part IV of the application did not specify a date of

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**Interpretation:** The absence of a specific date of default in the demand notice itself might not

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**Application:** The Tribunal implicitly found the demand notice valid as the CD's contention

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## Parties

- **Judges:** ASHISH KALIA,…; BANWARI LAL…
- **Appellants:** Shree Hari Yarns…
- **Respondents:** Ahuja Synfab…
- **Other parties:** Committee of…; Ravi Shankar…; +1 more
- **Advocates:** Viraj P…; Poorva…; +2 more

## Timeline

- **November 2022 to January 2023 — Yarn Supply…**: Shree Hari Yarns Private Ltd. supplied various types of yarn to Ahuja Synfab Private…
- **07.11.2022 to 11.01.2023 — Invoice…**: Invoices for yarn supply were raised by the Operational Creditor, showing due dates of…

## 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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