# In the matter of S. S. Alloys Products Pvt. Limited  I.A.No. 68 of 2021 in C.P. (I.B) No. 166-9-NCLT-AHM-2020

> NCLT judgment dated 2021-04-20. Citation: TCN-2021-NCLT-02334. The case involves an application filed by Shree Bansi Metal & Alloys Pvt. Ltd. (Operational…

- **Court:** NCLT
- **Order date:** 20 Apr 2021
- **Citation:** TCN-2021-NCLT-02334
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/s-s-alloys-products-pvt-limited-iano-68-of-2021-in-cp-ib-no-166-9-nclt-ahm-2020-f6e07db2

## Summary

### Background

The case involves an application filed by Shree Bansi Metal & Alloys Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against S.S. Alloys Products Pvt. Ltd. (Corporate Debtor) for a total outstanding amount of Rs. 24,71,337 plus interest. The Operational Creditor claimed to have supplied goods to the Corporate Debtor between 2012 and 2018. The Corporate Debtor denied the claim, stating that the petition was malicious and the claims were time-barred. The Adjudicating Authority directed the Operational Creditor to issue a fresh notice to the Corporate Debtor and make a paper publication to ensure service of notice.

## Facts

Shree Bansi Metal & Alloys Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against S.S. Alloys Products Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed a total sum of Rs. 24,71,337 plus interest at 18% as of 31.03.2019 for goods supplied. The Operational Creditor had been supplying base metals like iron and stainless steel to the Corporate Debtor from 2012 to 2018 under various invoices and delivery challans. The Corporate Debtor made some payments towards the outstanding amount. The Operational Creditor submitted copies of invoices, GST bills, ledger accounts, and a confirmation letter dated 7th September 2019. The Corporate Debtor argued that the petition

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational …

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

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**Reasoning:** The Adjudicating Authority observed that the last date of the transaction was 17.04.2013,

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**Interpretation:** The Limitation Act prescribes a specific period within which legal proceedings

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**Application:** In this case, the last transaction date was 17.04.2013, and the balance

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** Shree Bansi Metal…
- **Respondents:** S.S. Alloys…
- **Advocates:** Shakil S…; Rutvik…

## Timeline

- **2012-01-01 — Supply of…**: The Operational Creditor started supplying…
- **2018-01-01 — Supply of…**: The Operational Creditor continued supplying base metals to the Corporate Debtor until…

## 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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