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

> NCLT judgment dated 2026-10-05. Citation: TCN-2026-NCLT-01117. Shree Hari Yarns Private Ltd. (Operational Creditor) filed an application under Section 9 of…

- **Court:** NCLT
- **Order date:** 5 Oct 2026
- **Citation:** TCN-2026-NCLT-01117
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/ahuja-synfab-private-limited-mvifx

## Summary

### Background

Shree Hari Yarns Private Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ahuja Synfab Private Limited (Corporate Debtor). The Operational Creditor alleged a total default of Rs.1,41,98,849/-, comprising a principal amount for yarn supplied and interest for delayed payments, as per invoices containing an 18% p.a. interest clause. The Corporate Debtor had made some delayed payments but failed to clear the outstanding dues despite multiple demand notices.

## Facts

Shree Hari Yarns Private Ltd. (Operational Creditor) filed a CIRP application against Ahuja Synfab Private Limited (Corporate Debtor) under Section 9 of the IBC.

The application, C.P. (IB) No.747/MB/2024, was filed on 27.09.2024.

The alleged total default amount is Rs.1,41,98,849/- as of 20.04.2024.

This amount includes 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 payments.

The record of default was notified to the Information Utility.

The Operational Creditor supplied various types of yarn to the Corporate Debtor from November 2022 to January 2023, raising invoices aggregating to Rs.1,32,63,935.

…

## Issues and analysis

### Issue 1: Whether the demand notice issued by the Operational Creditor is invalid for not specifying a date …

**Ratio:** A demand notice is not invalid if the date of default can be clearly ascertained from the

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**Reasoning:** The Operational Creditor's application (Part-IV) and the NeSL record mentioned the date

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**Interpretation:** The requirement for a 'date of default' in a demand notice under Section 8 of

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**Application:** The Corporate Debtor's contention that the demand notice lacked a date of

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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

- **2022-11-01 — Supply of Yarn…**: Shree Hari Yarns Private Ltd. (OC) began supplying various types of yarn to Ahuja Synfab…
- **2023-01-31 — Supply of Yarn…**: Shree Hari Yarns Private Ltd. (OC) concluded supplying various types of yarn to Ahuja…

## 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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