Sturdy Industries Limited, an Operational Creditor, filed a Section 9 petition under the Insolvency and Bankruptcy Code, 2016 (IBC) against Surya Irrigation Private Limited, a Corporate Debtor, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The National Company Law Tribunal (NCLT), Jaipur Bench, dismissed this petition via an order dated 06.11.2024, which was later rectified on 12.02.2025 for clerical errors. The NCLT's dismissal was based on the petition being barred by limitation and the existence of a pre-existing dispute. Sturdy Industries Limited, which itself entered CIRP on 06.06.2024, appealed this NCLT order to the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi.
The Respondent (Surya Irrigation Private Limited) purchased goods from the Appellant (Sturdy Industries Limited) during 2014-15.
Invoices were raised on each delivery, and payments were made, with accounts settled and reconciled till 23.02.2015.
The Appellant's pleadings record the date of default as 07.03.2015.
Between 2015 and 2021, the Appellant claims to have made repeated requests for payment.
A demand notice dated 10.03.2021 was issued under Section 8 of the Code and served on the Respondent on 12.03.2021.
The Section 9 petition was filed on 23.09.2021, over six years after the stated date of default.
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The Respondent (Surya Irrigation Private…
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Sturdy Industries Limited, an Operational Creditor, filed a Section 9 petition under the Insolvency and Bankruptcy Code, 2016 (IBC) against Surya Irrigation Private Limited, a Corporate Debtor, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The National Company Law Tribunal (NCLT), Jaipur Bench, dismissed this petition via an order dated 06.11.2024, which was later rectified on 12.02.2025 for clerical errors. The NCLT's dismissal was based on the petition being barred by limitation and the existence of a pre-existing dispute. Sturdy Industries Limited, which itself entered CIRP on 06.06.2024, appealed this NCLT order to the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi.
The Respondent (Surya Irrigation Private Limited) purchased goods from the Appellant (Sturdy Industries Limited) during 2014-15.
Invoices were raised on each delivery, and payments were made, with accounts settled and reconciled till 23.02.2015.
The Appellant's pleadings record the date of default as 07.03.2015.
Between 2015 and 2021, the Appellant claims to have made repeated requests for payment.
A demand notice dated 10.03.2021 was issued under Section 8 of the Code and served on the Respondent on 12.03.2021.
The Section 9 petition was filed on 23.09.2021, over six years after the stated date of default.
…The Respondent (Surya Irrigation Private…
Accounts between the…