# In the matter of Prakriti Power Private Limited Company Petition No. (IB)-237-9-JPR-2019

> NCLT judgment dated 2019-09-25. Citation: TCN-2019-NCLT-01269. The case involves an application filed by Suryaa Chamball Power Limited, an operational…

- **Court:** NCLT
- **Order date:** 25 Sept 2019
- **Citation:** TCN-2019-NCLT-01269
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/prakriti-power-private-limited-company-petition-no-ib-237-9-jpr-2019-65e68a3d

## Summary

### Background

The case involves an application filed by Suryaa Chamball Power Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Prakriti Power Private Limited, the corporate debtor. The operational debt arises from the procurement and installation of a weighbridge at the corporate debtor's premises, for which the applicant raised debit notes. The corporate debtor disputes the debt, citing limitation and settlement agreements with related parties.

## Facts

Suryaa Chamball Power Limited (the Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Prakriti Power Private Limited (the Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Applicant claimed to be an operational creditor, asserting that the Corporate Debtor owed them Rs. 12,93,542/- excluding interest of Rs. 8,79,609/-. The debt arose from the procurement and installation of a weighbridge at the Corporate Debtor's premises, based on a purchase order dated 22.12.2011. The Applicant raised debit notes dated 31.03.2012 and 31.03.2013. The Corporate Debtor confirmed and acknowledged the total due amount of Rs. 12,93,542/- through Confirmation of Account. The Corporate Debtor

…

## Issues and analysis

### Issue 1: Whether the Application is …

**Ratio:** Section 18(1) of the Limitation Act, 1963 states that if, before the expiration of the

…

**Reasoning:** The court observed that the debit notes were raised on 31.03.2012 and 31.03.2013, and

…

**Interpretation:** Section 18(1) of the Limitation Act provides a mechanism for extending the

…

**Application:** The court applied Section 18(1) of the Limitation Act to the facts of the case,

…

## Parties

- **Judges:** POONDLA BHASKARA…; RAGHU N…; +1 more
- **Appellants:** SURYAA CHAMBALL…
- **Respondents:** Prakriti Power…
- **Advocates:** Shivangshu…; Raunak…; +1 more

## Timeline

- **2011-12-22 — Purchase…**: Applicant placed a purchase order for procurement and installation of weighbridge at…
- **2012-01-07 — Purchase…**: Applicant issued purchase order on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/prakriti-power-private-limited-company-petition-no-ib-237-9-jpr-2019-65e68a3d