# In the matter of Amar Parkash Rice Exports Pvt. Ltd. CP (IB) No. 99-Chd-Pb-2021

> NCLT judgment dated 2021-11-10. Citation: TCN-2021-NCLT-00552. The case pertains to CP (IB) No. 99/Chd/Pb/2021 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 10 Nov 2021
- **Citation:** TCN-2021-NCLT-00552
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amar-parkash-rice-exports-pvt-ltd-cp-ib-no-99-chd-pb-2021-94977784

## Summary

### Background

The case pertains to CP (IB) No. 99/Chd/Pb/2021 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner, Hans Raj Som Nath, is an operational creditor, and the respondent, Amar Parkash Rice Exports Pvt. Ltd., is the corporate debtor. The case was presented through video conferencing.

## Facts

Hans Raj Som Nath, the petitioner and an operational creditor, filed CP (IB) No. 99/Chd/Pb/2021 against Amar Parkash Rice Exports Pvt. Ltd., the respondent and corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. On 04.10.2021, the Tribunal observed that the petition appeared to be barred by limitation and granted time for the petitioner to take appropriate steps, listing the matter for 10.11.2021. On 10.11.2021, the petitioner's counsel stated that they did not want to proceed with the petition and sought leave to withdraw it. Consequently, the Tribunal dismissed the petition as withdrawn.

## Issues and analysis

### Issue 1: Whether the CP (IB) No. 99/Chd/Pb/2021 is …

**Ratio:** The principle of limitation dictates that legal proceedings must be initiated within a

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**Reasoning:** The Tribunal initially observed that the CP appeared to be barred by the period of

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**Interpretation:** The interpretation of limitation laws involves determining the applicable

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**Application:** The Tribunal's initial observation suggests that the facts presented in the CP

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Hans Raj So…
- **Respondents:** Amar Parkash Rice…

## Timeline

- **2021-10-04 — Initial…**: The Tribunal noted that the CP appeared to be barred by the period of limitation and…
- **2021-11-10 — Petition Wit…**: The petitioner's counsel stated that they did not want to proceed with the petition and…

## 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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