# In the matter of MILESTONE ALUMINIUM COMPANY PRIVATE LIMITED

> NCLT judgment dated 2025-09-08. Citation: TCN-2025-NCLT-01343. The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Fuso…

- **Court:** NCLT
- **Order date:** 8 Sept 2025
- **Citation:** TCN-2025-NCLT-01343
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/milestone-aluminium-company-private-limited-a22c4d7f

## Summary

### Background

The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Fuso Glass India Private Limited (Operational Creditor/Petitioner) to initiate Corporate Insolvency Resolution Process (CIRP) against Milestone Aluminium Company Private Limited (Corporate Debtor/Respondent). The petition was based on the Corporate Debtor's default on a total outstanding amount of Rs. 3,73,08,725.45.

## Facts

Fuso Glass India Private Limited filed a petition under Section 9 of the IBC to initiate CIRP against Milestone Aluminium Company Private Limited.

The Corporate Debtor allegedly defaulted on a total outstanding amount of Rs. 3,73,08,725.45.

The date of default mentioned in Form 5 is 31/08/2021.

The Respondent argued that the application was barred by limitation.

The Petitioner argued that the date of default in a running account is the last date of payment.

The Petitioner submitted that the Corporate Debtor acknowledged the debt through part payments and email correspondences.

The Adjudicating Authority admitted the petition and declared a moratorium.

Ms. Rashmi Jadhav was appointed as the Interim Resolution Professional.

## Issues and analysis

### Issue 1: Whether the application …

**Ratio:** The limitation period commences from the date of default, and any acknowledgment of debt

…

**Reasoning:** The Adjudicating Authority considered the date of default, the last payment made by the

…

**Interpretation:** The limitation period for filing an application under Section 9 of the IBC is

…

**Application:** In this case, the Adjudicating Authority found that the petition was filed

…

## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Fuso Glass India…
- **Respondents:** Milestone…; Milestone…
- **Other parties:** Rashmi J…; Fuso Glass India…

## Timeline

- **2022-11-07 — Petition…**: The present petition is filed on 07/11/2022 under section 9 of the Insolvency and…
- **2021-08-31 — Date of D…**: The date of default mentioned in the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8(1) — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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