# In the matter of Ramji Dass Darshan Kumar Ltd. (IB)-732-(PB)-2018

> NCLT judgment dated 2018-11-01. Citation: TCN-2018-NCLT-00400. The case involves an application filed by L & T Finance Limited against Ramji Dass Darshan…

- **Court:** NCLT
- **Order date:** 1 Nov 2018
- **Citation:** TCN-2018-NCLT-00400
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ramji-dass-darshan-kumar-ltd-ib-732-pb-2018-92d867fc

## Summary

### Background

The case involves an application filed by L & T Finance Limited against Ramji Dass Darshan Kumar Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The petitioner's counsel conceded that the petition is barred by limitation, referencing a Supreme Court judgment (B.K Educational Services Pvt. Ltd. v. Parag Gupta and Associates) which recognized the applicability of the Limitation Act to the IBC. The default occurred in June-July 2013, and arbitration awards were passed between August 2014 and January 2015. The application was filed on 07.06.2018.

## Facts

L & T Finance Limited filed an application against Ramji Dass Darshan Kumar Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The default occurred in June-July 2013. Arbitration awards were passed between August 2014 and January 2015. The application was filed on 07.06.2018. The petitioner's counsel conceded that the petition was barred by limitation, citing the applicability of the Limitation Act to IBC proceedings, as per a Supreme Court judgment. The NCLAT order stated that the limitation period would apply from 01.12.2016, the date the I&B Code came into effect. The court noted that the defaulted amount claimed belonged to the period of June/July-2013 and the arbitration awards were passed in August, 2014 to January, 2015.

## Issues and analysis

### Issue 1: Whether the application filed by L & T Finance Limited is barred by limitation under the …

**Ratio:** The Limitation Act applies to proceedings under the Insolvency & Bankruptcy Code,

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**Reasoning:** The court relied on the concession made by the petitioner's counsel and the judgment of

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**Interpretation:** The legal issue revolves around the interpretation of the Limitation Act in the

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**Application:** In this specific case, the default occurred in June-July 2013, and the

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** L&T Finance…
- **Respondents:** Ramji Dass…

## Timeline

- **2013-07-01 — Default Oc…**: The default by Ramji Dass Darshan…
- **2014-08-01 — Arbitration Awards…**: Arbitration awards were passed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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