# In the matter of Jagdish Prasad Sharma vs. Silverline Graphics Private Limited

> NCLAT judgment dated 2025-01-22. Citation: TCN-2025-NCLAT-00255. This is an appeal filed by Mr. Jagdish Prasad Sharma, the suspended management of M/s India…

- **Court:** NCLAT
- **Order date:** 22 Jan 2025
- **Citation:** TCN-2025-NCLAT-00255
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/jagdish-prasad-sharma-vs-silverline-graphics-private-limited-5cc3990c

## Summary

### Background

This is an appeal filed by Mr. Jagdish Prasad Sharma, the suspended management of M/s India Offset Printers Private Limited, against an order dated September 11, 2024, passed by the National Company Law Tribunal (NCLT), Delhi Bench, in CP(IB) No.598/ND/2023. The NCLT admitted a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016, filed by the Respondent/Operational Creditor, M/s Silverline Graphics Private Limited, against M/s India Offset Printers Private Limited / Corporate Debtor. The Corporate Debtor challenged the order primarily on the grounds of pre-existing disputes, non-existence of debt, and limitation.

## Facts

M/s Silverline Graphics Private Limited (Operational Creditor) filed a Section 9 application under the IBC against M/s India Offset Printers Private Limited (Corporate Debtor) for unpaid invoices. The Corporate Debtor argued that there were pre-existing disputes related to a rental arrangement between the promoters of both companies, where goods supplied were being adjusted against rent owed. The Corporate Debtor also claimed that the invoices were time-barred and that the transactions were not a running account. The Adjudicating Authority admitted the Section 9 application, leading to the appeal by the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor had acknowledged the debt through part payments and that the invoices were not time-barred

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## Issues and analysis

### Issue 1: Whether there is a pre-existing dispute between the …

**Ratio:** The Hon'ble Supreme Court in Mobilox Innovations Private Limited Vs. Kirusa Software

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**Reasoning:** The court found that the dispute was not just between the promoters but was intermingled

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**Interpretation:** A 'pre-existing dispute' under Section 9 of the IBC must be a real dispute

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**Application:** The court applied the ratio to the facts by finding that the dispute related to

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Jagdish Prasad…
- **Respondents:** M/S INDIA OFFSET…; M/s Silverline…

## Timeline

- **2023-01-01 — CP(IB) No.598…**: Proceedings before the National…
- **2024-09-11 — Order by Adjudicating…**: Order passed by the 'Adjudicating Authority' (National Company Law Tribunal, Delhi Bench)…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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