R.J. Packwells Pvt. Ltd Vs Maurya Printers Pvt. Ltd (NCLT Delhi)
The National Company Law Tribunal (NCLT), Delhi Bench, adjudicated an application filed by R.J. Packwells Pvt. Ltd. (“Applicant” or “Operational Creditor”) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (“IBC”), read with Rule 6 of the Adjudicating Authority Rules, seeking initiation of the Corporate Insolvency Resolution Process (“CIRP”) against Maurya Printers Pvt. Ltd. (“Respondent” or “Corporate Debtor”). The application was based on default in payment of ₹2,20,41,983, exclusive of 15% annual interest, for goods supplied by the Applicant in the ordinary course of business.
Applicant’s Submissions
The Applicant submitted that it supplied goods such as Duplex Boards and allied materials to the Respondent from time to time against duly raised invoices and e-way bills. The goods were received and accepted without objection, and a running account was maintained. As per the reconciled books of both parties, outstanding balances stood at ₹2,31,26,983 as on 31.03.2023 and ₹2,20,41,983 as on 31.03.2024, confirming identical balances in both accounts. Despite several reminders, the Respondent failed to make payment.
The Applicant issued a demand notice dated 12.10.2024, duly received by the Respondent on 21.10.2024. In reply dated 11.11.2024, the Respondent admitted its liability and sought three to four months to repay due to liquidity constraints. However, despite such admission and repeated reminders, including emails dated 18.03.2025 and 21.03.2025, the Respondent failed to make payment. The Applicant then filed the present application for initiation of CIRP.
