Shyam Metalics and Energy Limited, the Operational Creditor, filed a CP No.(IB)-1326(ND)/2018 before the NCLT, New Delhi Bench, against Rathi Steel and Power Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs.1,12,63,389/-. The Adjudicating Authority rejected the application on 20.12.2018, citing arbitration proceedings and the Appellant's failure to satisfy the Authority on the ground of limitation, as no proof of payments was made within three years of filing the Petition. The Corporate Debtor had placed purchase orders in 2012 and 2013, but payments were not made, and cheques issued in 2013 were dishonored. The Appellant issued a notice under Section 8 of IBC on 19th March, 2018, which the Respondent

Shyam Metalics and Energy Limited, the Operational Creditor, filed a CP No.(IB)-1326(ND)/2018 before the NCLT, New Delhi Bench, against Rathi Steel and Power Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs.1,12,63,389/-. The Adjudicating Authority rejected the application on 20.12.2018, citing arbitration proceedings and the Appellant's failure to satisfy the Authority on the ground of limitation, as no proof of payments was made within three years of filing the Petition. The Corporate Debtor had placed purchase orders in 2012 and 2013, but payments were not made, and cheques issued in 2013 were dishonored. The Appellant issued a notice under Section 8 of IBC on 19th March, 2018, which the Respondent