# In the matter of Rashi Peripherls Pvt. Ltd. vs. Savera Digital India Pvt. Ltd. Company Appeal (AT)(Insolvency) No. 1153 of 2022

> NCLAT judgment dated 2023-02-21. Citation: TCN-2023-NCLAT-00710. This appeal was filed against the order dated 01.08.2022 passed by the National Company Law…

- **Court:** NCLAT
- **Order date:** 21 Feb 2023
- **Citation:** TCN-2023-NCLAT-00710
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rashi-peripherls-pvt-ltd-vs-savera-digital-india-pvt-ltd-company-appeal-4bd131d6

## Summary

### Background

This appeal was filed against the order dated 01.08.2022 passed by the National Company Law Tribunal, Kolkata Bench-I, Kolkata in CP (IB)97/KB/2021, which rejected the application filed by the Appellant u/s 9 as barred by u/s 10A. The Adjudicating Authority rejected the Section 9 application because the date of default, 08.09.2020, fell within the period excluded under Section 10A of the Code.

## Facts

Rashi Peripherls Pvt. Ltd. filed an appeal against an order dated 01.08.2022 passed by the National Company Law Tribunal (NCLT), Kolkata Bench-I, in CP (IB)97/KB/2021. The NCLT had rejected the Appellant's application under Section 9 of the Insolvency and Bankruptcy Code (IBC) as being barred by Section 10A. The NCLT determined that the date of default was 08.09.2020, which fell within the period excluded by Section 10A. The Appellant argued that the NCLT failed to properly consider Part IV of the application, which detailed the operational debt and the dates of default for various invoices between 16.04.2019 and 26.09.2019. The Appellant claimed that these defaults occurred before the period excluded by Section 10A. The Respondent, Savera Digital India Pvt. Ltd., did

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in rejecting the application under Section 9 of the IBC …

**Ratio:** Section 10A of the IBC provides a specific period during which no application for

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**Reasoning:** The NCLAT reasoned that the Adjudicating Authority failed to consider the entirety of

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**Interpretation:** Section 10A provides a temporary suspension of the right to initiate CIRP for

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**Application:** In this case, the NCLAT found that the Adjudicating Authority incorrectly

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Rashi Peripherls…
- **Respondents:** Savera Digital…
- **Advocates:** Mudit S…; Nandini S…

## Timeline

- **2022-08-01 — Order by…**: The National Company Law Tribunal (NCLT), Kolkata Bench-I, passed an order in CP…
- **2023-02-21 — Hearing by…**: The National Company Law Appellate Tribunal (NCLAT) heard the learned counsel for the…

## 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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