# In the matter of Bright Buildtech Private Limited (IB)-1493(ND)2019

> NCLT judgment dated 2020-01-22. Citation: TCN-2020-NCLT-02219. The case involves an application filed under Section 9 of the Insolvency & Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 22 Jan 2020
- **Citation:** TCN-2020-NCLT-02219
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bright-buildtech-private-limited-ib-1493nd2019-59efbb8b

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, by M/S Suresh Chand & Sons LLP (Operational Creditor) against M/S Bright Buildtech Private Limited (Corporate Debtor). The Operational Creditor was engaged by the Corporate Debtor to sell properties in its project 'Wood View Residences'. Brokerage payments were agreed upon for each sale. The Operational Creditor raised brokerage bills dated 01.06.2015, 03.06.2015, and 03.06.2016, which were acknowledged by the Corporate Debtor. However, the Corporate Debtor failed to clear the dues.

## Facts

M/S Suresh Chand & Sons LLP (Operational Creditor) was engaged by M/S Bright Buildtech Private Limited (Corporate Debtor) to sell properties in the 'Wood View Residences' project. Brokerage payments were agreed upon. The Operational Creditor raised brokerage bills dated 01.06.2015, 03.06.2015, and 03.06.2016, which were acknowledged by the Corporate Debtor. The Corporate Debtor failed to clear dues of Rs. 85,33,967.00 towards brokerage and Rs. 15,56,561.00 towards service tax, totaling Rs. 1,00,90,528.00. The Operational Creditor sent a demand notice on 15.04.2019, which the Corporate Debtor replied to on 27.04.2019, claiming a pre-existing dispute and limitation. The Operational Creditor filed a petition for CIRP. The Corporate Debtor claimed the invoices were

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## Issues and analysis

### Issue 1: Whether the application is within limitation …

**Ratio:** Article 137 of the Limitation Act, 1963, prescribes a three-year limitation period for

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**Reasoning:** The court noted that the invoices were raised on 03.06.2016, and the application was

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**Interpretation:** The court interpreted that the limitation period starts from the date the right

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**Application:** The court found that the acknowledgement of debt on 19.04.2018 fell within

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; SUMITA PURK…; +1 more
- **Appellants:** M/s Suresh Chand…
- **Respondents:** M/S BRIGHT…

## Timeline

- **2015-06-01 — Brokerage Bil…**: Operational Creditor…
- **2015-06-03 — Brokerage Bil…**: Operational Creditor…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(21) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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