# M/s Bhagwati Trading Co. Through its proprietor Mr Pradeep Kumar Bansal vs. M/s. Premium Laminators Private Limited

> NCLT judgment dated 2026-08-05. Citation: TCN-2026-NCLT-00795. M/s Bhagwati Trading Co., an operational creditor, filed a Section 9 IBC petition against M/s.…

- **Court:** NCLT
- **Order date:** 5 Aug 2026
- **Citation:** TCN-2026-NCLT-00795
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/ms-bhagwati-trading-co-through-its-proprietor-mr-pradeep-kumar-bansal-vs-ms-prem-wkobs

## Summary

### Background

M/s Bhagwati Trading Co., an operational creditor, filed a Section 9 IBC petition against M/s. Premium Laminators Private Limited, the corporate debtor, for an unpaid operational debt of Rs. 2,67,59,096/-. The corporate debtor claimed a pre-existing dispute regarding defective goods and delayed deliveries, citing WhatsApp conversations. The operational creditor countered that the dispute was an afterthought, unsupported by evidence, and that the corporate debtor had acknowledged the debt and made part payments.

## Facts

M/s Bhagwati Trading Co., an operational creditor, filed a petition under Section 9 of the IBC against M/s. Premium Laminators Private Limited, the corporate debtor.

The petition sought to initiate CIRP for an outstanding operational debt of Rs. 2,67,59,096/- along with 24% interest.

The operational creditor supplied paper to the corporate debtor and raised invoices, maintaining a current and running account.

On 31.12.2025, an amount of Rs. 2,69,75,851.12/- became due and payable by the corporate debtor.

The corporate debtor acknowledged and confirmed this outstanding amount via email dated 01.01.2026, which included its own maintained ledger account.

The operational creditor issued a demand notice under Section 8 of the Code on 12.03.2026 for the unpaid operational debt.

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## Issues and analysis

### Issue 1: Whether the application for initiating Corporate Insolvency Resolution Process (CIRP) under Section …

**Ratio:** An application under Section 9 of the IBC is maintainable if the operational creditor

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**Reasoning:** The Adjudicating Authority found that the Operational Creditor had established the

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**Interpretation:** The Adjudicating Authority's role at this stage is to determine if there is a

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**Application:** The Adjudicating Authority applied these principles and concluded that the

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## Parties

- **Judges:** ANUPINDER SINGH…; RAVINDRA CHATURVED…
- **Appellants:** M/s Bhagwati…; Mr Pradeep Kumar…
- **Respondents:** M/s. Premium…
- **Other parties:** Gopal…
- **Advocates:** Mr Samit…

## Timeline

- **2025-12-31 — Debt Beca…**: An amount of Rs. 2,69,75,851.12/- became…
- **2026-01-01 — Debt Acknowled…**: The Corporate Debtor acknowledged and confirmed the outstanding amount via email,…

## 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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