# In the matter of Akzo Nobel India vs. Stan Cars Pvt. Ltd.

> NCLAT judgment dated 2025-07-03. Citation: TCN-2025-NCLAT-00338. Akzo Nobel India Ltd. filed an appeal against the order of the National Company Law Tribunal…

- **Court:** NCLAT
- **Order date:** 3 Jul 2025
- **Citation:** TCN-2025-NCLAT-00338
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/akzo-nobel-india-vs-stan-cars-pvt-ltd-d6bb1b3a

## Summary

### Background

Akzo Nobel India Ltd. filed an appeal against the order of the National Company Law Tribunal (NCLT), New Delhi, Bench-II, which rejected their Section 7 petition under the Insolvency and Bankruptcy Code (IBC) against Stan Cars Pvt. Ltd. The NCLT rejected the petition based on the ground of limitation.

## Facts

Akzo Nobel India Ltd. (Appellant) filed a Section 7 petition against Stan Cars Pvt. Ltd. (Respondent) under the IBC.

The NCLT rejected the petition on the ground of limitation.

An agreement was entered into between the Appellant and Respondent on 21.11.2017, where the Appellant extended a trade advance.

The Appellant disbursed a Trade Advance of Rs. 2,40,50,000/- to the Respondent.

The Respondent executed a Promissory Note dated 21.11.2017 in favour of the Financial Creditor.

The Respondent sent a mail dated 27.12.2019 acknowledging the debt of the Appellant.

The Appellant filed a petition under Section 7 of the code against the Respondent Corporate Debtor on 28.10.2022.

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in rejecting the Section 7 petition filed by the …

**Ratio:** The limitation period is calculated from the date of default. Section 18 of the

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**Reasoning:** The Adjudicating Authority did not consider the email dated 27.12.2019 as an

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**Interpretation:** The exclusion of time due to the COVID-19 pandemic should be considered when

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**Application:** The Appellate Tribunal found that the Section 7 application was filed within

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## Parties

- **Judges:** Rakesh Kuma…; Naresh Sa…; +1 more
- **Appellants:** Akzo Nobel India…
- **Respondents:** Stan Cars Pvt.…
- **Advocates:** A.S Lik…; Ashraf…

## Timeline

- **2017-11-21 — Agreement…**: Agreement entered into between Akzo…
- **2017-12-21 — Transfer…**: Rs. 1,62,50,000…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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