# In the matter of Millennium Structurals (India) Limited TP-MP-156-2019 {CP (IB) No. 461-9-NCLT-INDORE-2019}

> NCLT judgment dated 2020-09-28. Citation: TCN-2020-NCLT-00525. S.N. Tradelink Private Limited, the Operational Creditor, filed an application under Section 9…

- **Court:** NCLT
- **Order date:** 28 Sept 2020
- **Citation:** TCN-2020-NCLT-00525
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/millennium-structurals-india-limited-tp-mp-156-2019-cp-ib-no-461-9-nclt-indore-2-8b32ea4a

## Summary

### Background

S.N. Tradelink Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Millennium Structurals (India) Limited, the Corporate Debtor, claiming a debt of Rs.7,91,932. The Operational Creditor contended that they sold goods to the Corporate Debtor between 15.04.2016 and 21.04.2016, for which payment was not made. A notice under Section 8 of the IBC was served on the Corporate Debtor on 10.04.2019. The Corporate Debtor argued that the application was filed beyond three years from the date of default.

## Facts

S.N. Tradelink Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Millennium Structurals (India) Limited (Corporate Debtor) for a debt of Rs.7,91,932. The Operational Creditor supplied goods to the Corporate Debtor between 15.04.2016 and 21.04.2016. The Corporate Debtor failed to make the payment. A notice under Section 8 of the IBC was served on 10.04.2019. The application was filed on 01.07.2019. The Corporate Debtor contended that the application was filed beyond the three-year limitation period from the date of default. The invoices stipulated immediate payment. The Corporate Debtor did not respond to the Section 8 notice within 10 days.

## Issues and analysis

### Issue 1: Whether the application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 is barred …

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

…

**Reasoning:** The court reasoned that even though the notice under Section 8 was delivered within three

…

**Interpretation:** The interpretation of the limitation period is based on the date of filing the

…

**Application:** In this case, the application was filed more than three years after the date of

…

## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** S. N. TRADELINK…
- **Respondents:** Millennium…
- **Advocates:** Pavan God…; Harmish…

## Timeline

- **2016-04-15 — Supply of Good…**: Operational Creditor starts…
- **2016-04-21 — Last Invoice…**: The last invoice for the supplied…

## 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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