# In the matter of AMI Tech (India) Private Limited C.P. No. 1810-IBC-MB-2018

> NCLT judgment dated 2020-12-04. Citation: TCN-2020-NCLT-00154. Lampex Electronics Limited filed a company petition against AMI Tech (India) Private Limited,…

- **Court:** NCLT
- **Order date:** 4 Dec 2020
- **Citation:** TCN-2020-NCLT-00154
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ami-tech-india-private-limited-cp-no-1810-ibc-mb-2018-eb09e927

## Summary

### Background

Lampex Electronics Limited filed a company petition against AMI Tech (India) Private Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition alleges that AMI Tech (India) Private Limited defaulted on payments for goods provided by Lampex Electronics Limited. The operational debt claimed is Rs. 2,23,29,138/-, comprising Rs. 1,15,43,505/- as principal and Rs. 1,07,85,633/- as interest at 24% per annum from 01.04.2018.

## Facts

Lampex Electronics Limited (Operational Creditor) filed a petition against AMI Tech (India) Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 2,23,29,138/-. The debt comprised a principal amount of Rs. 1,15,43,505/- and interest of Rs. 1,07,85,633/- accruing from April 1, 2018, at 24% per annum. The Corporate Debtor is a private limited company incorporated on December 5, 1995. The Operational Creditor supplied Automatic Mete Reading (AMR) EQUIPMENT UNITS to the Corporate Debtor since 2011. The Corporate Debtor made part payments but never against a specific invoice, adjusting payments against the total outstanding dues. The Operational Creditor relied on eight tax invoice-cum-delivery challans.

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## Issues and analysis

### Issue 1: Whether the above company …

**Ratio:** The starting point for computation of the period of limitation for triggering sections 7

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**Reasoning:** The NCLT determined that the default related to the period 2014. The acknowledgment of

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**Interpretation:** The acknowledgment of liability must be an unequivocal admission of the entire

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**Application:** The Corporate Debtor's acknowledgment of liability on 25th August 2015, was not

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## Parties

- **Judges:** H.V. Subb…; Shyam Babu…
- **Appellants:** Lampex Electronics…
- **Respondents:** AMI Tech (India)…

## Timeline

- **2010-12-14 — Agreement between…**: The Applicant and the Respondent entered into an agreement in terms of which the…
- **2014-04-21 — Payment by Re…**: The Respondent made a payment of Rs. 75,00,000/- to the Applicant towards the supply of…

## 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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