# In the matter of C. Shivakumar Reddy Vs. Kavveri Telecom Infrastructure Limited & Ors. Company Appeal (AT) (Insolvency) No. 407-2019

> NCLAT judgment dated 2019-12-18. Citation: TCN-2019-NCLAT-00008. This case involves an appeal against the order of the Adjudicating Authority (National…

- **Court:** NCLAT
- **Order date:** 18 Dec 2019
- **Citation:** TCN-2019-NCLAT-00008
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/c-shivakumar-reddy-vs-kavveri-telecom-infrastructure-limited-ors-company-appeal-186553e5

## Summary

### Background

This case involves an appeal against the order of the Adjudicating Authority (National Company Law Tribunal), Bengaluru Bench, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) to initiate Corporate Insolvency Resolution Process (CIRP) against Kavveri Telecom Infrastructure Limited. The appellant, a shareholder of the Corporate Debtor, challenged the order, arguing that the application was barred by limitation.

## Facts

Kavveri Telecom Infrastructure Limited (Corporate Debtor) defaulted in paying its debt to Dena Bank (Financial Creditor) on September 30, 2013. Dena Bank classified the debt as a Non-Performing Asset (NPA) on December 31, 2013. Dena Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Kavveri Telecom Infrastructure Limited. The Adjudicating Authority admitted the application. A shareholder of Kavveri Telecom Infrastructure Limited appealed the decision, arguing the application was time-barred. Dena Bank argued that the Corporate Debtor acknowledged its liability, extending the limitation period. The Corporate Debtor had deposited interest in March 2014 and sought debt

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## Issues and analysis

### Issue 1: Whether the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, was barred by …

**Ratio:** The principle of limitation dictates that legal proceedings must be initiated within a

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**Reasoning:** The court reasoned that the default occurred on September 30, 2013, and the application

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**Interpretation:** The legal issue is interpreted in the context of the I&B Code and the

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**Application:** The court applied the ratio to the facts by determining that the application

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## Parties

- **Judges:** S.J. Mukhop…; Venugop…
- **Appellants:** C. Shivakumar…
- **Respondents:** Kavveri Telecom…; Dena…

## Timeline

- **2013-09-30 — Default…**: Kavveri Telecom Infrastructure Limited…
- **2013-12-31 — NPA Decla…**: Dena Bank classified the debt as…

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