Burdwan Kraft Board LLP Vs Narayani Packaging Private Limited (NCLT Kolkata)
Burdwan Kraft Board LLP (“Operational Creditor”) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, before the NCLT Kolkata against Narayani Packaging Private Limited (“Corporate Debtor”) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) for non-payment of operational debt of Rs. 1,61,71,301/-. The dispute arose from supplies of kraft papers provided by the Operational Creditor between 22nd July 2023 and 3rd November 2023 pursuant to purchase orders placed by the Corporate Debtor’s directors via WhatsApp. Deliveries were made in separate batches with corresponding challans and GST invoices, which were received and accepted by the Corporate Debtor without demur.
The total value of goods supplied amounted to Rs. 3,09,45,989/-, of which Rs. 1,62,37,638/- was paid intermittently. The balance amount of Rs. 1,47,08,351/- remained outstanding. On 29th April 2024, the Operational Creditor sent a balance confirmation of accounts via email, which the Corporate Debtor received without objection, implicitly acknowledging the debt. The Operational Creditor subsequently issued a demand notice under the IBC on 24th June 2024, which was received and replied to by the Corporate Debtor on 8th July 2024, alleging supply of inferior quality goods. However, the Corporate Debtor did not provide particulars of the alleged defects or explain why the consignments continued to be accepted and utilized.
