# In the matter of Agile International Logistics & Supply Chain Pvt. Ltd. IB-1799-ND-2019

> NCLT judgment dated 2020-02-20. Citation: TCN-2020-NCLT-01853. Parisi Grand Smooth Logistics Limited filed an application under Section 9 of the Insolvency…

- **Court:** NCLT
- **Order date:** 20 Feb 2020
- **Citation:** TCN-2020-NCLT-01853
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/agile-international-logistics-supply-chain-pvt-ltd-ib-1799-nd-2019-9a20fe85

## Summary

### Background

Parisi Grand Smooth Logistics Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Agile International Logistics & Supply Chain Pvt. Ltd. for initiating Corporate Insolvency Resolution Process (CIRP) due to an alleged default of Rs. 87,37,711. The applicant claimed that the respondent had approached them with a business proposition related to freight forwarding and logistic services, leading to an international agency agreement. The applicant raised invoices between 21.01.2016 and 11.04.2016, but the respondent allegedly failed to clear the outstanding amount as per the agreement.

## Facts

Parisi Grand Smooth Logistics Limited (Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Agile International Logistics & Supply Chain Pvt. Ltd. (Respondent) seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Applicant claimed a default of Rs. 87,37,711. The Applicant and Respondent entered into an international agency agreement related to freight forwarding and logistic services. The Applicant raised invoices between January 21, 2016, and April 11, 2016, for services rendered. As per the agreement, payments were to be made on a monthly basis, with invoices to be paid within thirty days after the end of the month. The agreement also stipulated a 7-day payment period for outstanding amounts

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## Issues and analysis

### Issue 1: Whether the application …

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

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**Reasoning:** The court considered the email dated 30.09.2016 sent by the Respondent to the Applicant,

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**Interpretation:** An acknowledgment of debt within the limitation period extends the limitation

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**Application:** Since the acknowledgment was made on 30.09.2016 and the application was filed

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## Parties

- **Judges:** P.S.N. P…; V.K. SUB…
- **Appellants:** Parisi Grand…
- **Respondents:** Agile Internationa…
- **Advocates:** Akshay Sriv…; Harpreet Singh…; +2 more

## Timeline

- **2015-10-21 — Agreement Signed in New…**: International agency agreement…
- **2016-02-11 — Agreement Signed in…**: International agency agreement…

## Legal provisions

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

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