Page 1 of 8

IN THE NATIONAL COMPANY LAW TRIBUNAL

KOLKATA BENCH

(Court No. 1)

KOLKATA

C.P (IB) No. 579/KB/2020

An application under section 9 of the Insolvency and Bankruptcy Code, 2016 read

with rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority)

Rules, 2016.

In the matter of:

Sudarshan Paper And Board Pvt. Ltd. [CIN U21015WB2003PTC095782], a

company incorporate under the Companies Act, 1956, having its registered office at

Unit No. 1106, 11th Floor, Godrej Genesis, Plot No XI, Block - EP & GP, Salt Lake,

Sector-V, Kolkata, Parganas North - 700091.

...Operational Creditor

Versus

Kalika Press Private Limited [CIN U22219WB1938PTC009243], a company

incorporate under the Companies Act, 1913, having its registered office at

25, DL Roy Street, Kolkata – 700006.

...Corporate Debtor

Date of Hearing: 28.09.2022

Date of pronouncing the order: 14.12.2022

Coram:

Shri P. Mohan Raj

:

Member (Judicial)

Shri Balraj Joshi

:

Member (Technical)

Appearances (through Video Conferencing/physical hearing)

Mr. Avishek Guha, Adv.

: For Operational Creditor

Mr. Chitresh Saraogi, Adv.

Mr. Pradip Paul, Adv.

: For Corporate Debtor

IN THE NATIONAL COMPANY LAW TRIBUNAL

KOLKATA BENCH

(Court – I)

C.P (IB) No. 579/KB/2020

Sudarshan Paper And Board Pvt. Ltd. v. Kalika Press Private Limited

Page 2 of 8

O R D E R

Per Balraj Joshi, Member (Technical)

1.

The Court convened via hybrid mode.

2.

This is a Company Petition filed under section 9 of the Insolvency and

Bankruptcy Code, 2016 (‘the Code’) read with Rule 6 of the Insolvency and

Bankruptcy (Application to Adjudicating Authority) Rules, 2016 by Mr. Atanu

Mitra, Authorised Representative, Sudarshan Paper And Board Pvt. Ltd.

(‘Operational Creditor’), duly authorised vide Board Resolution dated 20

September, 2019¹ for initiation of Corporate Insolvency Resolution Process

(‘CIRP’) against Kalika Press Private Limited (‘Corporate Debtor’).

3.

The present Petition was filed on 21 February, 2020 before this Adjudicating

Authority. The total amount claimed in default is Total amount of Rs.12,72,000

/-.(Rupees Twelve Lakh and Seventy Two Thousand Only), including an

interest at the rate of 18% Per Annum is of Rs. 72,000 /- (Rupees Seventy Two

Thousand Only), calculated from 22nd July, 2019 till 22^nd November, 2019.

4.

In part II of the Petition the authorized share capital of the Corporate Debtor is

Rs.65,00,000/- (Rupees Sixty Five Lakh only) with subscribed share capital of

Rs.50,00,000/- (Rupees Fifty Lakh only).

5.

Submissions by the Ld. Counsel appearing on behalf of the Operational

Creditor.

5.1

The Operational Creditor had supplied paper and paper boards to the Corporate

Debtor and the same was appropriated by the Corporate Debtor. That in the

usual course of business, the Corporate Debtor had approached the Operational

Creditor, and made representations. In pursuance to such representation the

Corporate Debtor, were supplied with the materials and thereby became liable

to make payments towards the materials supplied.

1Annexure – C of the Petition.

IN THE NATIONAL COMPANY LAW TRIBUNAL

KOLKATA BENCH

(Court – I)

C.P (IB) No. 579/KB/2020

Sudarshan Paper And Board Pvt. Ltd. v. Kalika Press Private Limited

Page 3 of 8

5.2

Several invoices were issued against such supply of goods, which remained

unpaid. Since such amount remained unpaid, the Operational Creditor company

was compelled to initiate a proceeding under section 9 of the Insolvency and

Bankruptcy Code, 2016, before the National Company law Tribunal, Kolkata

Bench for a total claim of Rs.49,98,871/- which was recoverable against the

invoices raised and transactions that took place on and from 25th August, 2016

till 3rd October, 2016 inclusive of interest.

5.3

Subsequently, the said application under section 9 of the Insolvency and

Bankruptcy Code, 2016, before the National Company law Trib