# In the matter of P.M. Cold Storage Pvt. Ltd. Vs. Goouksheer Farm Fresh Pvt. Ltd. & Anr. Company Appeal (AT) (Insolvency) No. 615 of 2020

> NCLAT judgment dated 2022-09-14. Citation: TCN-2022-NCLAT-00219. This appeal was filed under Section 61(1) of the Insolvency and Bankruptcy Code, 2016 (IBC),…

- **Court:** NCLAT
- **Order date:** 14 Sept 2022
- **Citation:** TCN-2022-NCLAT-00219
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/pm-cold-storage-pvt-ltd-vs-goouksheer-farm-fresh-pvt-ltd-anr-company-appeal-ae0c6896

## Summary

### Background

This appeal was filed under Section 61(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), challenging the order dated 17.06.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata) in IA(IB) No. NIL/KB/2020 in C.P (IB) No. 1582/KB/2019. The Adjudicating Authority dismissed the application filed by P.M. Cold Storage Pvt. Ltd. (the Appellant), which contested the admission of a claim by New Hind Silk House Pvt. Ltd. (NHSH) in the Corporate Insolvency Resolution Process (CIRP) of Goouksheer Farm Fresh Pvt. Ltd., the corporate debtor. The Appellant argued that NHSH's claim was barred by limitation and that the Resolution Professional (RP) improperly admitted it.

## Facts

P.M. Cold Storage Pvt. Ltd. initiated an appeal against an order by the Adjudicating Authority (NCLT, Kolkata) which had dismissed its application challenging the admission of a claim by New Hind Silk House Pvt. Ltd. (NHSH) in the CIRP of Goouksheer Farm Fresh Pvt. Ltd. P.M. Cold Storage was the sole financial creditor initially in the CoC with 100% voting rights. The CIRP was initiated on 13.12.2019. The first CoC meeting occurred on 08.01.2020. The RP informed the CoC that P.M. Cold Storage's claim was the only one received by 26.12.2019, amounting to Rs. 65,80,505.00. P.M. Cold Storage filed IA 392/KB/2020 on 13.02.2020 seeking replacement of the RP due to dissatisfaction with expenses and appointment of professionals. The RP, allegedly aggrieved by this action,

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## Issues and analysis

### Issue 1: Whether the claim submitted by New Hind Silk House Pvt. Ltd. (NHSH) is barred by limitation based …

**Ratio:** A claim is barred by limitation if the last payment was made outside the statutory period

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**Reasoning:** The NCLAT found discrepancies in the signatures on the acknowledgment of debt documents,

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**Interpretation:** The limitation period for a debt claim starts from the date of the last

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**Application:** Since the last payment was made on 05.08.2016 and the claim was filed on

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## Parties

- **Judges:** Alok Sriv…
- **Appellants:** P.M. Cold Storage…
- **Respondents:** Goouksheer Farm…

## Timeline

- **2019-12-13 — CIRP Init…**: Corporate Insolvency…
- **2020-01-08 — First CoC M…**: First meeting of the Committee…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61(1) — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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