# In the matter of PUSHPAK AUXICHEM PRIVATE LIMITED

> NCLT judgment dated 2025-08-07. Citation: TCN-2025-NCLT-01184. The case pertains to a Company Petition No. C.P. (IB) 292/MB/2025 filed on 13.12.2024 under…

- **Court:** NCLT
- **Order date:** 7 Aug 2025
- **Citation:** TCN-2025-NCLT-01184
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/pushpak-auxichem-private-limited-94c7203c

## Summary

### Background

The case pertains to a Company Petition No. C.P. (IB) 292/MB/2025 filed on 13.12.2024 under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Anil Kumar Gupta, Sole Proprietor of M/s Rashtriya Polymers & Solvent, the Operational Creditor (OC), for initiating Corporate Insolvency Resolution Process (CIRP) of Pushpak Auxichem Private Limited, the Corporate Debtor (CD).

## Facts

The Company Petition No. C.P. (IB) 292/MB/2025 was filed on 13.12.2024 under Section 9 of the IBC.

The Operational Creditor, Rashtriya Polymers & Solvent, claimed a default of Rs. 1,45,01,717/- including principal and interest.

The Corporate Debtor, Pushpak Auxichem Private Limited, admitted to placing orders for industrial solvents but alleged that the supplies were not in accordance with agreed quality specifications.

The Operational Creditor issued a demand notice in Form 3 on 16.08.2024, which was served on the Corporate Debtor via email on 17.08.2024.

The Corporate Debtor responded to the demand notice on 23.09.2024, admitting financial difficulties and inability to make full payment.

…

## Issues and analysis

### Issue 1: Whether there was a pre-existing dispute between the parties regarding the quality of goods …

**Ratio:** The NCLT found that the Corporate Debtor's defense of a pre-existing dispute was

…

**Reasoning:** The Corporate Debtor's response to the demand notice admitted financial difficulties

…

**Interpretation:** The absence of prior communication regarding the quality of goods before the

…

**Application:** The NCLT rejected the Corporate Debtor's

…

## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Rashtriya…; Anil Kumar…
- **Respondents:** Pushpak Auxichem…
- **Other parties:** Balu Namdev…; Sabbani M…
- **Advocates:** Nikhil Kr…; Varun…

## Timeline

- **2024-12-13 — Filing of Company…**: Company Petition No. C.P. (IB) 292/MB/2025…
- **2024-08-16 — Demand N…**: Operational Creditor issued…

## 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/pushpak-auxichem-private-limited-94c7203c