# In the matter of Neesa Security Solutions Pvt. Ltd. C. P. (I.B) No. 567-9-NCLT-AHM-2018

> NCLT judgment dated 2020-03-17. Citation: TCN-2020-NCLT-01482. The Operational Creditor, Checkmate Services Private Limited, filed a petition under Section 9…

- **Court:** NCLT
- **Order date:** 17 Mar 2020
- **Citation:** TCN-2020-NCLT-01482
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/neesa-security-solutions-pvt-ltd-c-p-ib-no-567-9-nclt-ahm-2018-a71979d9

## Summary

### Background

The Operational Creditor, Checkmate Services Private Limited, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Neesa Security Solutions Private Limited. The Operational Creditor claimed that the Corporate Debtor was indebted for INR 4,48,60,568, including principal and interest calculated up to 31.03.2018. The application was filed on 22.10.2018.

## Facts

Checkmate Services Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Neesa Security Solutions Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor owed INR 4,48,60,568, including principal and interest calculated up to 31.03.2018. The application was filed on 22.10.2018. The Corporate Debtor was incorporated on 18.11.2009. The Operational Creditor submitted invoices for the period between 31.03.2013 and 31.05.2015. The first default occurred on 30.04.2013. The Operational Creditor issued a demand notice on 31.03.2018. The Corporate Debtor issued six cheques in 2013, which were returned due

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor is barred by limitation under Section 9 …

**Ratio:** The application must be filed within three years from the date of default as per the

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**Reasoning:** The Adjudicating Authority observed that the date of default was 30.04.2013, and the

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**Interpretation:** Section 9 of the IBC, read with the Limitation Act, requires that an

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**Application:** Since the application was filed more than three years after the date of

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## Parties

- **Judges:** Harihar Prakash…; Prasanta Kumar…
- **Appellants:** Checkmate…
- **Respondents:** Neesa Security…

## Timeline

- **2009-11-18 — Incorporation of…**: Neesa Security Solutions…
- **2013-04-30 — Date of First…**: The date on which the…

## 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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